AdvanSix (NYSE:ASIX) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of AdvanSix (NYSE:ASIX) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Separately, Piper Sandler boosted their price target 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 AdvanSix stock opened at $29.08 on Tuesday. The firm has a market capitalization of $777.31 million, a P/E 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. The business’s fifty day simple moving average is $29.64 and its 200 day simple moving average is $26.87. AdvanSix has a 12 month low of $20.86 and a 12 month high of $32.04.

AdvanSix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th. AdvanSix’s dividend payout ratio is currently 45.39%.

Insider Activity

In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $30.28, for a total transaction of $151,400.00. Following the sale, the chief executive officer now directly owns 522,795 shares of the company’s stock, valued at $15,830,232.60. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Donald P. Newman bought 5,030 shares of the business’s stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $29.64 per share, with a total value of $149,089.20. Following the transaction, the director now directly owns 5,030 shares of the company’s stock, valued at approximately $149,089.20. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 13,418 shares of company stock valued at $411,626 in the last 90 days. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On AdvanSix

Several institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in shares of AdvanSix during the 2nd quarter valued at $34,000. Acadian Asset Management LLC bought a new stake in shares of AdvanSix during the second quarter valued at about $36,000. Copeland Capital Management LLC purchased a new stake in shares of AdvanSix in the third quarter worth about $41,000. Allspring Global Investments Holdings LLC bought a new position in shares of AdvanSix in the second quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in AdvanSix during the second quarter valued at approximately $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.