AdvanSix Inc. (NYSE:ASIX - Get Free Report) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 329,100 shares, a growth of 9.9% from the November 15th total of 299,500 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 128,600 shares, the days-to-cover ratio is currently 2.6 days.
Shares of NYSE:ASIX traded down $0.21 during mid-day trading on Friday, reaching $30.95. 89,080 shares of the company's stock were exchanged, compared to its average volume of 140,137. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. AdvanSix has a twelve month low of $20.86 and a twelve month high of $33.00. The firm has a market capitalization of $827.29 million, a price-to-earnings ratio of 21.95 and a beta of 1.73. The business's fifty day moving average price is $30.56 and its 200-day moving average price is $27.86.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.07%. AdvanSix's dividend payout ratio (DPR) is currently 45.39%.
In related news, insider Christopher Gramm sold 1,951 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $32.00, for a total value of $62,432.00. Following the transaction, the insider now directly owns 43,463 shares in the company, 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 firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $30.37, for a total transaction of $151,850.00. Following the transaction, 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. Insiders have sold 15,369 shares of company stock valued at $474,058 over the last ninety days. 5.60% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. First Eagle Investment Management LLC increased its holdings in AdvanSix by 33.0% in the second quarter. First Eagle Investment Management LLC now owns 611,077 shares of the company's stock worth $14,006,000 after purchasing an additional 151,470 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AdvanSix by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 598,485 shares of the company's stock valued at $18,186,000 after acquiring an additional 8,903 shares in the last quarter. American Century Companies Inc. lifted its position in shares of AdvanSix by 5.4% during the 2nd quarter. American Century Companies Inc. now owns 593,834 shares of the company's stock valued at $13,611,000 after acquiring an additional 30,500 shares during the period. FMR LLC boosted its stake in AdvanSix by 86.2% during the third quarter. FMR LLC now owns 565,982 shares of the company's stock worth $17,195,000 after acquiring an additional 261,964 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in AdvanSix by 48.6% in the third quarter. Wellington Management Group LLP now owns 469,685 shares of the company's stock worth $14,269,000 after purchasing an additional 153,686 shares during the period. Institutional investors own 86.39% of the company's stock.
A number of equities research analysts have issued reports on ASIX shares. Piper Sandler increased their price objective 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 raised shares of AdvanSix from a "hold" rating to a "buy" rating in a research note on Wednesday, December 4th.
Check Out Our Latest Stock Analysis on ASIX
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.
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