AdvanSix (NYSE:ASIX) Trading Down 8%

AdvanSix Inc. (NYSE:ASIX – Get Rating) shares traded down 8% on Thursday . The stock traded as low as $30.87 and last traded at $31.05. 20,754 shares were traded during mid-day trading, a decline of 89% from the average session volume of 184,911 shares. The stock had previously closed at $33.74.

Several research analysts recently weighed in on the company. Piper Sandler increased their target price on AdvanSix from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, March 14th. Stifel Nicolaus increased their target price on AdvanSix from $64.00 to $76.00 in a research report on Friday, March 11th. Finally, StockNews.com raised AdvanSix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 11th.

The firm has a 50-day simple moving average of $45.29 and a 200 day simple moving average of $45.20. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.81. The company has a market capitalization of $873.91 million, a PE ratio of 5.63 and a beta of 1.76.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 17th were paid a dividend of $0.125 per share. The ex-dividend date was Monday, May 16th. This represents a $0.50 annualized dividend and a dividend yield of 1.61%. AdvanSix’s dividend payout ratio is presently 8.35%.

In other AdvanSix news, insider Christopher Gramm sold 1,000 shares of AdvanSix stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $38.42, for a total value of $38,420.00. Following the completion of the transaction, the insider now directly owns 38,765 shares in the company, valued at $1,489,351.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.50% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of ASIX. Whittier Trust Co. increased its stake in AdvanSix by 122.3% in the 1st quarter. Whittier Trust Co. now owns 589 shares of the company’s stock valued at $30,000 after buying an additional 324 shares during the period. Point72 Hong Kong Ltd bought a new stake in AdvanSix in the 1st quarter valued at $32,000. KRS Capital Management LLC bought a new stake in AdvanSix in the 4th quarter valued at $46,000. GHP Investment Advisors Inc. bought a new position in shares of AdvanSix during the 1st quarter worth about $81,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of AdvanSix during the 1st quarter worth about $89,000. Institutional investors and hedge funds own 82.19% of the company’s stock.

AdvanSix Company Profile (NYSE:ASIX)

AdvanSix Inc manufactures and sells 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, alpha-methyl styrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.

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