AdvanSix (NYSE:ASIX) Sets New 52-Week Low After Insider Selling

AdvanSix Inc. (NYSE:ASIX)’s share price hit a new 52-week low during trading on Friday after an insider sold shares in the company. The stock traded as low as $22.34 and last traded at $23.08, with a volume of 86857 shares. The stock had previously closed at $25.75.

Specifically, SVP Achilles B. Kintiroglou sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $27.69, for a total transaction of $110,760.00. Following the completion of the transaction, the senior vice president now owns 38,996 shares in the company, valued at approximately $1,079,799.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $27.69, for a total transaction of $110,760.00. Following the transaction, the senior vice president now directly owns 38,996 shares of the company’s stock, valued at $1,079,799.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $28.30, for a total transaction of $141,500.00. Following the sale, the chief executive officer now owns 557,755 shares in the company, valued at $15,784,466.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,048 shares of company stock worth $578,848. 5.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 price objective on shares of AdvanSix in a research note on Tuesday, April 9th.

AdvanSix Price Performance

The stock has a 50 day moving average of $27.06 and a two-hundred day moving average of $27.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.58 and a current ratio of 1.17. The stock has a market cap of $591.70 million, a PE ratio of 12.15 and a beta of 1.74.

AdvanSix (NYSE:ASIX) last released its earnings results on Friday, February 16th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. AdvanSix had a net margin of 3.56% and a return on equity of 6.98%. The business had revenue of $382.21 million for the quarter, compared to the consensus estimate of $335.80 million. Equities analysts anticipate that AdvanSix Inc. will post 1.04 EPS for the current year.

AdvanSix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Friday, March 1st. AdvanSix’s dividend payout ratio is currently 33.68%.

Hedge Funds Weigh In On AdvanSix

Several institutional investors and hedge funds have recently bought and sold shares of ASIX. Donald Smith & CO. Inc. purchased a new position in AdvanSix in the fourth quarter valued at about $4,191,000. Wellington Management Group LLP acquired a new position in AdvanSix in the third quarter worth approximately $4,081,000. Richard Bernstein Advisors LLC bought a new position in AdvanSix during the third quarter valued at approximately $2,370,000. Foundry Partners LLC lifted its stake in AdvanSix by 45.3% in the third quarter. Foundry Partners LLC now owns 135,634 shares of the company’s stock valued at $4,216,000 after acquiring an additional 42,286 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in AdvanSix by 26.7% in the third quarter. Victory Capital Management Inc. now owns 2,177,830 shares of the company’s stock worth $67,687,000 after acquiring an additional 458,622 shares in the last quarter. 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.