AdvanSix (NYSE:ASIX) Trading Down 0.3% on Insider Selling

AdvanSix Inc. (NYSE:ASIX)’s stock price dropped 0.3% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $31.66 and last traded at $31.81. Approximately 15,579 shares changed hands during trading, a decline of 89% from the average daily volume of 141,298 shares. The stock had previously closed at $31.91.

Specifically, insider Christopher Gramm sold 1,951 shares of AdvanSix stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $32.00, for a total transaction of $62,432.00. Following the completion of the sale, the insider now directly owns 43,463 shares in the company, valued at $1,390,816. This trade represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ASIX shares. 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. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th.

AdvanSix Price Performance

The company has a market capitalization of $850.31 million, a PE ratio of 22.56 and a beta of 1.69. 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 50 day simple moving average is $30.06 and its 200-day simple moving average is $27.17.

AdvanSix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s payout ratio is currently 45.39%.

Hedge Funds Weigh In On AdvanSix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC grew its position in shares of AdvanSix by 33.0% during the second quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company’s stock worth $14,006,000 after buying an additional 151,470 shares in the last quarter. Geode Capital Management LLC lifted its stake in AdvanSix by 1.5% in the third quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock worth $18,186,000 after acquiring an additional 8,903 shares during the last quarter. American Century Companies Inc. lifted its stake in AdvanSix by 5.4% in the second quarter. American Century Companies Inc. now owns 593,834 shares of the company’s stock worth $13,611,000 after acquiring an additional 30,500 shares during the last quarter. FMR LLC grew its holdings in AdvanSix by 86.2% during the 3rd quarter. FMR LLC now owns 565,982 shares of the company’s stock worth $17,195,000 after acquiring an additional 261,964 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of AdvanSix by 48.6% in the 3rd quarter. Wellington Management Group LLP now owns 469,685 shares of the company’s stock valued at $14,269,000 after purchasing an additional 153,686 shares during the last quarter. Hedge funds and other institutional investors 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.