AdvanSix (NYSE:ASIX) Stock Price Down 1.3% – Here’s What Happened

AdvanSix Inc. (NYSE:ASIX) was down 1.3% on Tuesday . The stock traded as low as $29.60 and last traded at $30.05. Approximately 16,063 shares traded hands during trading, a decline of 88% from the average daily volume of 139,395 shares. The stock had previously closed at $30.46.

Analyst Ratings Changes

Several brokerages have recently issued reports on ASIX. Piper Sandler upped their price objective on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. StockNews.com raised shares of AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Stock Down 1.6 %

The company has a market capitalization of $755.69 million, a P/E ratio of 20.05 and a beta of 1.73. The company has a 50 day simple moving average of $30.49 and a two-hundred day simple moving average of $28.00. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.26%. AdvanSix’s payout ratio is presently 45.39%.

Insiders Place Their Bets

In other AdvanSix news, Director Donald P. Newman purchased 5,030 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $29.64 per share, with a total value of $149,089.20. Following the purchase, the director now owns 5,030 shares of the company’s stock, valued at approximately $149,089.20. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of the company’s 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 directly owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,369 shares of company stock valued at $474,058 over the last three months. 5.60% of the stock is owned by company insiders.

Institutional Trading of AdvanSix

A number of large investors have recently made changes to their positions in the stock. Copeland Capital Management LLC purchased a new stake in AdvanSix in the third quarter worth about $41,000. Point72 DIFC Ltd purchased a new stake in shares of AdvanSix in the 2nd quarter worth approximately $34,000. Acadian Asset Management LLC bought a new position in shares of AdvanSix during the second quarter valued at approximately $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in AdvanSix during the second quarter valued at approximately $51,000. Finally, Allspring Global Investments Holdings LLC bought a new position in AdvanSix in the second quarter worth approximately $51,000. 86.39% of the stock is owned by hedge funds and other institutional investors.

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.