AdvanSix (NYSE:ASIX) Stock Price Up 6.8% – Still a Buy?

AdvanSix Inc. (NYSE:ASIX)’s share price shot up 6.8% on Monday . The stock traded as high as $28.48 and last traded at $28.30. 31,973 shares changed hands during trading, a decline of 72% from the average session volume of 114,684 shares. The stock had previously closed at $26.50.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ASIX. Piper Sandler lifted their price target on shares of AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

AdvanSix Stock Performance

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 50 day moving average is $29.93 and its two-hundred day moving average is $28.57. The company has a market cap of $775.47 million, a PE ratio of 20.57 and a beta of 1.76.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio (DPR) is presently 45.39%.

Insider Buying and Selling at AdvanSix

In other news, insider Christopher Gramm sold 2,435 shares of AdvanSix stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $32.00, for a total transaction of $77,920.00. Following the completion of the sale, the insider now directly owns 43,463 shares in the company, valued at approximately $1,390,816. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $30.37, for a total transaction of $151,850.00. Following the sale, the chief executive officer now directly owns 517,795 shares of the company’s stock, valued at $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. Insiders sold 14,749 shares of company stock valued at $444,205 in the last 90 days. Insiders own 5.60% of the company’s stock.

Institutional Trading of AdvanSix

A number of hedge funds have recently added to or reduced their stakes in ASIX. Meritage Portfolio Management raised its holdings in AdvanSix by 9.1% in the third quarter. Meritage Portfolio Management now owns 10,429 shares of the company’s stock worth $317,000 after purchasing an additional 871 shares in the last quarter. Copeland Capital Management LLC bought a new position in AdvanSix in the third quarter worth about $41,000. Public Employees Retirement System of Ohio increased its holdings in shares of AdvanSix by 29.9% during the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after acquiring an additional 1,396 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of AdvanSix during the second quarter valued at about $34,000. Finally, Acadian Asset Management LLC acquired a new position in shares of AdvanSix during the second quarter valued at about $36,000. 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.