AdvanSix (NYSE:ASIX) Stock Price Down 0.3% After Insider Selling

AdvanSix Inc. (NYSE:ASIX)’s share price dropped 0.3% on Wednesday after an insider sold shares in the company. The company traded as low as $31.66 and last traded at $31.81. Approximately 15,579 shares traded 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 the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $32.00, for a total transaction of $62,432.00. Following the completion of the transaction, the insider now directly owns 43,463 shares of the company’s stock, valued at $1,390,816. This trade represents a 4.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ASIX shares. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Piper Sandler upped their target price on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th.

AdvanSix Trading Down 0.9 %

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 firm has a market cap of $845.23 million, a price-to-earnings ratio of 22.56 and a beta of 1.69. The firm’s fifty day moving average is $30.06 and its 200-day moving average is $27.17.

AdvanSix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.02%. The ex-dividend date was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Hedge Funds Weigh In On AdvanSix

Institutional investors and hedge funds have recently modified their holdings of the business. State Board of Administration of Florida Retirement System grew its stake in shares of AdvanSix by 48.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,192 shares of the company’s stock valued at $320,000 after buying an additional 3,630 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of AdvanSix by 8.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 24,305 shares of the company’s stock worth $694,000 after purchasing an additional 1,904 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of AdvanSix in the 1st quarter worth $215,000. Comerica Bank grew its position in AdvanSix by 48.9% in the 1st quarter. Comerica Bank now owns 19,385 shares of the company’s stock valued at $554,000 after purchasing an additional 6,362 shares during the period. Finally, Boston Partners bought a new stake in AdvanSix during the 1st quarter valued at $702,000. 86.39% of the stock is currently owned by institutional investors.

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.