AdvanSix (NYSE:ASIX) Reaches New 1-Year High – Time to Buy?

AdvanSix Inc. (NYSE:ASIX) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.65 and last traded at $32.18, with a volume of 2624 shares traded. The stock had previously closed at $32.47.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com lowered AdvanSix from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Piper Sandler upped their target price on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th.

AdvanSix Stock Down 1.6 %

The company has a quick ratio of 0.62, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $30.26 and a two-hundred day simple moving average of $27.32. The stock has a market cap of $854.29 million, a P/E ratio of 23.03 and a beta of 1.69.

AdvanSix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.16 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.64 annualized dividend and a yield of 2.00%. AdvanSix’s payout ratio is currently 45.39%.

Insider Buying and Selling at AdvanSix

In other news, insider Christopher Gramm sold 1,951 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the sale, the insider now directly owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. This represents a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $30.37, for a total value of $151,850.00. Following the completion of the sale, the chief executive officer now directly owns 517,795 shares in the company, valued at approximately $15,725,434.15. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,369 shares of company stock worth $474,058. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AdvanSix

Institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co boosted 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 valued at $694,000 after buying an additional 1,904 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of AdvanSix during the first quarter valued at $215,000. Comerica Bank boosted its position in shares of AdvanSix by 48.9% during the first quarter. Comerica Bank now owns 19,385 shares of the company’s stock valued at $554,000 after buying an additional 6,362 shares during the last quarter. Boston Partners purchased a new stake in shares of AdvanSix during the first quarter valued at $702,000. Finally, Wedge Capital Management L L P NC boosted its position in shares of AdvanSix by 21.5% during the second quarter. Wedge Capital Management L L P NC now owns 32,673 shares of the company’s stock valued at $749,000 after buying an additional 5,774 shares during the last quarter. 86.39% of the stock is owned by hedge funds and other 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.