AdvanSix Inc. (NYSE:ASIX) Sees Significant Increase in Short Interest

AdvanSix Inc. (NYSE:ASIX) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 299,500 shares, an increase of 15.8% from the October 31st total of 258,700 shares. Based on an average trading volume of 129,100 shares, the short-interest ratio is currently 2.3 days. Approximately 1.2% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Piper Sandler increased their price objective on shares of AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th.

AdvanSix Stock Performance

ASIX stock traded down $0.29 during midday trading on Tuesday, hitting $32.58. 106,406 shares of the stock traded hands, compared to its average volume of 123,595. The firm has a market cap of $870.86 million, a P/E ratio of 23.11 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62. The stock’s fifty day simple moving average is $30.34 and its 200-day simple moving average is $27.37. AdvanSix has a 1-year low of $20.86 and a 1-year high of $33.00.

AdvanSix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.16 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 annualized dividend and a dividend yield of 1.96%. AdvanSix’s dividend payout ratio (DPR) is 45.39%.

Insider Buying and Selling

In related news, 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 owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. This represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $30.37, for a total transaction of $151,850.00. Following the completion of the transaction, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at $15,725,434.15. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,369 shares of company stock worth $474,058 in the last three months. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

A number of institutional investors and hedge funds have recently bought and sold shares of ASIX. SummerHaven Investment Management LLC grew its holdings in AdvanSix by 3.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 20,404 shares of the company’s stock worth $468,000 after acquiring an additional 672 shares in the last quarter. Meritage Portfolio Management grew its stake in AdvanSix by 9.1% in the 3rd quarter. Meritage Portfolio Management now owns 10,429 shares of the company’s stock valued at $317,000 after acquiring an additional 871 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in shares of AdvanSix during the 3rd quarter worth about $41,000. Public Employees Retirement System of Ohio raised its holdings in AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after buying an additional 1,396 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of AdvanSix during the second quarter valued at approximately $34,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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.