StockNews.com Downgrades AdvanSix (NYSE:ASIX) to Hold

StockNews.com downgraded shares of AdvanSix (NYSE:ASIX) from a buy rating to a hold rating in a research note released on Tuesday morning.

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

AdvanSix Stock Performance

AdvanSix stock opened at $31.75 on Tuesday. The company has a market cap of $848.71 million, a PE ratio of 22.30 and a beta of 1.69. The company has a fifty day moving average price of $29.82 and a two-hundred day moving average price of $26.97. 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 12 month low of $20.86 and a 12 month high of $32.04.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Tuesday, November 12th. AdvanSix’s dividend payout ratio is presently 45.39%.

Insiders Place Their Bets

In other news, insider Christopher Gramm sold 2,435 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $32.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $30.37, for a total transaction of $151,850.00. Following the transaction, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at approximately $15,725,434.15. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,418 shares of company stock valued at $411,626 over the last 90 days. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On AdvanSix

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

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.