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

Shares of AdvanSix Inc. (NYSE:ASIX) 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 changing hands. The stock had previously closed at $25.75.

Specifically, SVP Achilles B. Kintiroglou sold 3,661 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $25.23, for a total transaction of $92,367.03. Following the sale, the senior vice president now directly owns 35,335 shares of the company’s stock, valued at $891,502.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Achilles B. Kintiroglou sold 3,661 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $25.23, for a total transaction of $92,367.03. Following the sale, the senior vice president now owns 35,335 shares in the company, valued at $891,502.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Achilles B. Kintiroglou sold 4,000 shares of the company’s stock in a transaction that occurred on 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 owns 42,996 shares of the company’s stock, valued at approximately $1,195,288.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,048 shares of company stock worth $578,848. 5.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

AdvanSix Stock Performance

The company has a current ratio of 1.17, a quick ratio of 0.58 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average price is $26.94 and its 200 day moving average price is $27.09. The firm has a market capitalization of $591.70 million, a PE ratio of 11.62 and a beta of 1.74.

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

AdvanSix Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASIX. Copeland Capital Management LLC acquired a new stake in AdvanSix in the 4th quarter worth approximately $27,000. Quadrature Capital Ltd acquired a new position in AdvanSix in the 3rd quarter valued at $204,000. Aigen Investment Management LP bought a new position in AdvanSix in the 4th quarter worth $208,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AdvanSix by 32.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,062 shares of the company’s stock worth $219,000 after acquiring an additional 1,732 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in AdvanSix during the 4th quarter worth $234,000. 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.