AdvanSix (NYSE:ASIX) Rating Lowered to “Hold” at StockNews.com

AdvanSix (NYSE:ASIX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Piper Sandler upped 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

Shares of ASIX opened at $29.90 on Tuesday. AdvanSix has a one year low of $20.86 and a one year high of $32.04. The company has a market cap of $799.09 million, a PE ratio of 20.63 and a beta of 1.69. The stock has a 50-day moving average of $29.68 and a 200-day moving average of $26.92. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 0.62.

Insider Activity at AdvanSix

In other AdvanSix news, insider Christopher Gramm sold 2,435 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, valued at $1,390,816. The trade was a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald P. Newman purchased 5,030 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $29.64 per share, for a total transaction of $149,089.20. Following the acquisition, the director now directly owns 5,030 shares in the company, valued at $149,089.20. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 13,418 shares of company stock valued at $411,626. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On AdvanSix

Several large investors have recently modified their holdings of ASIX. Point72 DIFC Ltd purchased a new position in AdvanSix during the 2nd quarter valued at about $34,000. Acadian Asset Management LLC bought a new stake in AdvanSix during the 2nd quarter worth approximately $36,000. Copeland Capital Management LLC bought a new stake in AdvanSix during the 3rd quarter worth approximately $41,000. Allspring Global Investments Holdings LLC purchased a new stake in AdvanSix in the 2nd quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in AdvanSix in the 2nd quarter valued at $51,000. 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.