AdvanSix (NYSE:ASIX) Hits New 52-Week Low on Insider Selling

AdvanSix Inc. (NYSE:ASIX)’s stock price reached a new 52-week low during trading on Friday following insider selling activity. The company 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 AdvanSix stock in a transaction on Friday, March 1st. The shares were sold at an average price of $27.80, for a total value of $111,200.00. Following the transaction, the senior vice president now directly owns 42,996 shares of the company’s stock, valued at $1,195,288.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $27.80, for a total transaction of $111,200.00. Following the completion of the sale, the senior vice president now directly owns 42,996 shares in the company, valued at $1,195,288.80. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $28.30, for a total value of $141,500.00. Following the transaction, the chief executive officer now owns 557,755 shares in the company, valued at approximately $15,784,466.50. The disclosure for this sale can be found here. Insiders have sold 21,048 shares of company stock valued at $578,848 in the last ninety days. Company insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of AdvanSix in a report on Tuesday, April 9th.

AdvanSix Stock Down 14.1 %

The company’s fifty day simple moving average is $26.94 and its 200 day simple moving average is $27.08. The company has a quick ratio of 0.58, a current ratio of 1.17 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $593.39 million, a PE ratio of 11.65 and a beta of 1.74.

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

AdvanSix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, May 13th. AdvanSix’s dividend payout ratio (DPR) is presently 33.68%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in AdvanSix by 89.8% in the first quarter. BNP Paribas Financial Markets now owns 13,203 shares of the company’s stock worth $378,000 after purchasing an additional 6,245 shares during the period. Nilsine Partners LLC purchased a new stake in shares of AdvanSix in the 1st quarter worth approximately $579,000. Quadrature Capital Ltd increased its position in AdvanSix by 37.1% during the 4th quarter. Quadrature Capital Ltd now owns 8,989 shares of the company’s stock valued at $269,000 after buying an additional 2,434 shares in the last quarter. Wellington Management Group LLP raised its stake in AdvanSix by 39.8% during the fourth quarter. Wellington Management Group LLP now owns 183,499 shares of the company’s stock valued at $5,498,000 after buying an additional 52,199 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in AdvanSix in the fourth quarter worth $208,000. 86.39% of the stock is currently owned by 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.