AdvanSix Inc. (NYSE:ASIX) Short Interest Up 9.9% in November

AdvanSix Inc. (NYSE:ASIX) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 329,100 shares, an increase of 9.9% from the November 15th total of 299,500 shares. Based on an average trading volume of 128,600 shares, the short-interest ratio is currently 2.6 days. Approximately 1.3% of the company’s stock are sold short.

Analysts Set New Price Targets

Several research firms have weighed in on ASIX. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler increased their price target on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, November 8th.

AdvanSix Stock Performance

AdvanSix stock traded down $0.21 during trading on Friday, hitting $30.95. The stock had a trading volume of 89,080 shares, compared to its average volume of 140,137. The stock’s 50 day moving average is $30.56 and its two-hundred day moving average is $27.86. AdvanSix has a 1 year low of $20.86 and a 1 year high of $33.00. The stock has a market cap of $827.29 million, a price-to-earnings ratio of 21.95 and a beta of 1.73. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28.

AdvanSix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.07%. AdvanSix’s dividend payout ratio is presently 45.39%.

Insider Buying and Selling

In other news, Director Donald P. Newman acquired 5,030 shares of AdvanSix stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $29.64 per share, with a total value of $149,089.20. Following the transaction, the director now owns 5,030 shares of the company’s stock, valued at approximately $149,089.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Gramm sold 1,951 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $32.00, for a total transaction of $62,432.00. Following the completion of the sale, the insider now owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. This trade represents a 4.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,369 shares of company stock worth $474,058 in the last quarter. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASIX. FMR LLC grew its stake in AdvanSix by 86.2% in the 3rd quarter. FMR LLC now owns 565,982 shares of the company’s stock valued at $17,195,000 after buying an additional 261,964 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of AdvanSix by 48.6% in the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock worth $14,269,000 after acquiring an additional 153,686 shares during the period. First Eagle Investment Management LLC grew its position in shares of AdvanSix by 33.0% in the second quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock valued at $14,006,000 after purchasing an additional 151,470 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of AdvanSix by 45.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock valued at $5,955,000 after purchasing an additional 80,915 shares during the period. Finally, Millennium Management LLC lifted its holdings in AdvanSix by 83.8% during the 2nd quarter. Millennium Management LLC now owns 139,277 shares of the company’s stock worth $3,192,000 after purchasing an additional 63,489 shares in the last quarter. Institutional investors own 86.39% of the company’s stock.

AdvanSix Company Profile

AdvanSix Inc engages in the manufacture and sale of polymer resins in the United States and internationally. It offers Nylon 6, a polymer resin, which is a synthetic material used to produce fibers, filaments, engineered plastics, and films. The company also provides caprolactam to manufacture polymer resins; ammonium sulfate fertilizers to distributors, farm cooperatives, and retailers; and acetone that are used in the production of adhesives, paints, coatings, solvents, herbicides, and engineered plastic resins, as well as other intermediate chemicals, including phenol, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.