Short Interest in AdvanSix Inc. (NYSE:ASIX) Decreases By 5.4%

AdvanSix Inc. (NYSE:ASIX) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 258,700 shares, a decline of 5.4% from the October 15th total of 273,400 shares. Based on an average trading volume of 133,200 shares, the short-interest ratio is currently 1.9 days. Approximately 1.0% of the company’s shares are sold short.

Insider Buying and Selling at AdvanSix

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of AdvanSix stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total value of $151,400.00. Following the completion of the sale, the chief executive officer now owns 522,795 shares in the company, valued at $15,830,232.60. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Gramm sold 2,435 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total transaction of $77,920.00. Following the transaction, the insider now owns 43,463 shares in the company, valued at approximately $1,390,816. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,418 shares of company stock worth $411,626. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On AdvanSix

Institutional investors and hedge funds have recently modified their holdings of the stock. Copeland Capital Management LLC acquired a new position in AdvanSix during the 3rd quarter worth approximately $41,000. Point72 DIFC Ltd acquired a new position in shares of AdvanSix in the 2nd quarter valued at approximately $34,000. Acadian Asset Management LLC bought a new position in AdvanSix during the second quarter worth $36,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in AdvanSix during the second quarter valued at $51,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in AdvanSix during the second quarter valued at $51,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ASIX shares. StockNews.com downgraded AdvanSix from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Piper Sandler upped their price target on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th.

AdvanSix Price Performance

ASIX opened at $29.71 on Tuesday. AdvanSix has a 52-week low of $20.86 and a 52-week high of $32.04. The company has a 50 day moving average of $29.60 and a two-hundred day moving average of $26.84. The company has a market cap of $794.18 million, a P/E ratio of 21.06 and a beta of 1.69. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.64 dividend on an annualized basis and a yield of 2.15%. AdvanSix’s dividend payout ratio (DPR) is 45.39%.

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.