AdvanSix (NYSE:ASIX) Rating Increased to Buy at StockNews.com

AdvanSix (NYSE:ASIX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Piper Sandler increased their price target on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, November 8th.

AdvanSix Stock Performance

ASIX stock traded down $0.42 during midday trading on Wednesday, hitting $32.16. 113,078 shares of the company traded hands, compared to its average volume of 141,195. AdvanSix has a twelve month low of $20.86 and a twelve month high of $33.00. 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 business has a 50 day simple moving average of $30.47 and a 200-day simple moving average of $27.46. The stock has a market capitalization of $859.67 million, a price-to-earnings ratio of 22.81 and a beta of 1.73.

Insider Transactions at AdvanSix

In other news, Director Donald P. Newman bought 5,030 shares of AdvanSix stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $29.64 per share, with a total value of $149,089.20. Following the completion of the transaction, the director now directly owns 5,030 shares in the company, valued at $149,089.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Gramm sold 1,951 shares of the firm’s 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 completion of the transaction, the insider now directly owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. This trade represents a 4.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,369 shares of company stock worth $474,058. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new position in shares of AdvanSix in the third quarter valued at about $41,000. Point72 DIFC Ltd acquired a new position in shares of AdvanSix during the 2nd quarter worth about $34,000. Acadian Asset Management LLC acquired a new position in shares of AdvanSix during the 2nd quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of AdvanSix during the 2nd quarter worth about $51,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of AdvanSix during the 2nd quarter worth about $51,000. 86.39% of the stock is owned by institutional investors.

AdvanSix Company Profile

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.