AdvanSix (NYSE:ASIX) Trading 0.6% Higher on Insider Buying Activity

AdvanSix Inc. (NYSE:ASIX) rose 0.6% on Wednesday after an insider bought additional shares in the company. The company traded as high as $29.38 and last traded at $29.26. Approximately 14,800 shares traded hands during trading, a decline of 90% from the average daily volume of 141,014 shares. The stock had previously closed at $29.09.

Specifically, Director Donald P. Newman acquired 5,030 shares of the stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $29.64 per share, with a total value of $149,089.20. Following the completion of the transaction, the director now owns 5,030 shares of the company’s stock, valued at $149,089.20. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Sandler lifted their price objective on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th.

AdvanSix Stock Up 2.8 %

The company’s fifty day moving average is $29.68 and its 200-day moving average is $26.92. The company has a market cap of $799.09 million, a PE ratio of 20.63 and a beta of 1.69. The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, November 12th. AdvanSix’s payout ratio is currently 45.39%.

Institutional Trading of AdvanSix

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in AdvanSix by 319.2% during the third quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after purchasing an additional 32,706 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of AdvanSix by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock valued at $18,186,000 after acquiring an additional 8,903 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock worth $184,000 after purchasing an additional 1,396 shares in the last quarter. Jane Street Group LLC increased its stake in AdvanSix by 162.8% in the 3rd quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock worth $1,565,000 after buying an additional 31,915 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in AdvanSix by 48.6% during 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 period. 86.39% of the stock is currently owned by institutional investors.

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.