AdvanSix (NYSE:ASIX) Stock Rating Lowered by StockNews.com

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

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

AdvanSix Price Performance

ASIX opened at $29.75 on Monday. The company has a fifty day simple moving average of $29.51 and a 200 day simple moving average of $26.77. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The stock has a market cap of $795.11 million, a P/E ratio of 20.98 and a beta of 1.69. AdvanSix has a 12 month low of $20.86 and a 12 month high of $32.04.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued 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 dividend yield of 2.15%. AdvanSix’s payout ratio is 45.39%.

Insider Buying and Selling

In related news, insider Christopher Gramm sold 2,435 shares of the firm’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 owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total transaction of $151,400.00. Following the sale, the chief executive officer now directly owns 522,795 shares in the company, valued at $15,830,232.60. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,418 shares of company stock valued at $411,626. Company insiders own 5.60% of the company’s stock.

Institutional Trading of AdvanSix

A number of hedge funds and other institutional investors have recently modified their holdings of ASIX. Russell Investments Group Ltd. raised its position in AdvanSix by 227.0% during the first quarter. Russell Investments Group Ltd. now owns 150,663 shares of the company’s stock worth $4,309,000 after acquiring an additional 104,587 shares in the last quarter. Boston Partners bought a new stake in shares of AdvanSix in the 1st quarter valued at about $702,000. First Eagle Investment Management LLC lifted its stake in AdvanSix by 33.0% in the 2nd 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 during the last quarter. American Century Companies Inc. grew its holdings in AdvanSix by 5.4% during the second quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock worth $13,611,000 after purchasing an additional 30,500 shares during the period. Finally, Deprince Race & Zollo Inc. increased its position in AdvanSix by 45.2% during the second quarter. Deprince Race & Zollo Inc. now owns 259,824 shares of the company’s stock worth $5,955,000 after buying an additional 80,915 shares during the last quarter. Institutional investors and hedge funds 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.