AdvanSix (NYSE:ASIX) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of AdvanSix (NYSE:ASIX) from a buy rating to a hold rating in a research report released on Monday.

Separately, Piper Sandler boosted their price target on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th.

AdvanSix Price Performance

NYSE:ASIX opened at $29.75 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. AdvanSix has a one year low of $20.86 and a one year high of $32.04. The company has a fifty day moving average price of $29.51 and a 200 day moving average price of $26.77. The stock has a market cap of $795.11 million, a P/E ratio of 20.98 and a beta of 1.69.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, November 12th. AdvanSix’s payout ratio is 45.39%.

Insider Buying and Selling

In related news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total transaction of $151,400.00. Following the completion of the sale, the chief executive officer now directly owns 522,795 shares of the company’s stock, valued at $15,830,232.60. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total value of $77,920.00. Following the completion of the transaction, the insider now owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,418 shares of company stock worth $411,626 in the last quarter. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AdvanSix

A number of hedge funds have recently added to or reduced their stakes in ASIX. Copeland Capital Management LLC acquired a new stake in shares of AdvanSix in the 3rd quarter valued at $41,000. Point72 DIFC Ltd acquired a new stake in AdvanSix in the second quarter worth about $34,000. Acadian Asset Management LLC bought a new stake in AdvanSix during the 2nd quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in AdvanSix during the 2nd quarter valued at about $51,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of AdvanSix in the 2nd quarter valued at about $51,000. Institutional investors own 86.39% of the company’s stock.

About AdvanSix

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.