AdvanSix Inc. (NYSE:ASIX) Sees Large Drop in Short Interest

AdvanSix Inc. (NYSE:ASIX) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 258,700 shares, a decrease of 5.4% from the October 15th total of 273,400 shares. Based on an average daily volume of 133,200 shares, the short-interest ratio is presently 1.9 days. Currently, 1.0% of the company’s stock are short sold.

AdvanSix Price Performance

AdvanSix stock opened at $29.08 on Wednesday. The company has a market capitalization of $777.31 million, a price-to-earnings ratio of 20.62 and a beta of 1.69. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28. AdvanSix has a 12 month low of $20.86 and a 12 month high of $32.04. The stock’s 50 day moving average is $29.64 and its 200-day moving average is $26.87.

AdvanSix Announces Dividend

The company 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 2.20%. The ex-dividend date is Tuesday, November 12th. AdvanSix’s dividend payout ratio is 45.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Piper Sandler raised their price target on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th. StockNews.com cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Tuesday.

Insider Buying and Selling

In other news, Director Donald P. Newman bought 5,030 shares of the business’s stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $29.64 per share, for a total transaction 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Gramm sold 2,435 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total value of $77,920.00. Following the transaction, the insider now directly owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. This trade represents a 5.31 % decrease in their position. 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 Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in shares of AdvanSix in the second quarter valued at about $34,000. Acadian Asset Management LLC bought a new stake in AdvanSix in the 2nd quarter valued at about $36,000. Copeland Capital Management LLC acquired a new position in shares of AdvanSix during the 3rd quarter worth approximately $41,000. Allspring Global Investments Holdings LLC bought a new position in shares of AdvanSix during the second quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AdvanSix during the second quarter worth approximately $51,000. Institutional investors 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.