AdvanSix Inc. (NYSE:ASIX) Short Interest Up 9.9% in November

AdvanSix Inc. (NYSE:ASIX) was the recipient of a significant growth in short interest during 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. Based on an average trading volume of 128,600 shares, the short-interest ratio is currently 2.6 days. Currently, 1.3% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, insider Christopher Gramm sold 1,951 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $32.00, for a total transaction of $62,432.00. Following the sale, the insider now owns 43,463 shares in the company, valued at $1,390,816. The trade was a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donald P. Newman bought 5,030 shares of the business’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $29.64 per share, for a total transaction of $149,089.20. Following the completion of the purchase, the director now owns 5,030 shares in the company, valued at approximately $149,089.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 15,369 shares of company stock valued at $474,058 over the last quarter. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

A number of large investors have recently added to or reduced their stakes in ASIX. Barclays PLC raised its position in AdvanSix by 319.2% in the 3rd quarter. Barclays PLC now owns 42,952 shares of the company’s stock valued at $1,305,000 after buying an additional 32,706 shares during the last quarter. Geode Capital Management LLC lifted its position in AdvanSix by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 598,485 shares of the company’s stock worth $18,186,000 after buying an additional 8,903 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in AdvanSix by 29.9% in the third quarter. Public Employees Retirement System of Ohio now owns 6,067 shares of the company’s stock valued at $184,000 after purchasing an additional 1,396 shares in the last quarter. Jane Street Group LLC increased its position in shares of AdvanSix by 162.8% during the 3rd quarter. Jane Street Group LLC now owns 51,513 shares of the company’s stock worth $1,565,000 after purchasing an additional 31,915 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of AdvanSix by 48.6% during the 3rd 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 in the last quarter. Institutional investors own 86.39% of the company’s stock.

AdvanSix Stock Down 1.6 %

Shares of AdvanSix stock opened at $30.46 on Tuesday. 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 stock has a market cap of $814.23 million, a PE ratio of 21.60 and a beta of 1.73. The business has a fifty day simple moving average of $30.56 and a 200 day simple moving average of $27.90. AdvanSix has a 12 month low of $20.86 and a 12 month high of $33.00.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Tuesday, November 12th. AdvanSix’s dividend payout ratio is 45.39%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ASIX. Piper Sandler upped their price target 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 report on Wednesday, December 4th.

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.