In a recent transaction, Achilles B. Kintiroglou, the Senior Vice President and General Counsel of AdvanSix Inc . (NYSE:ASIX), sold a number of shares in the company. The executive parted with 350 shares at a price of $23.95 each, totaling approximately $8,382.
The sale took place on June 3, 2024, and was reported in a regulatory filing with the Securities and Exchange Commission (SEC). According to the filing, following the transaction, Kintiroglou still holds 34,985 shares of AdvanSix Inc. The transaction was conducted under a pre-arranged 10b5-1 trading plan, which allows insiders to establish pre-planned transactions to sell stocks at a predetermined time.
AdvanSix Inc., a manufacturer of plastic resins and chemicals, is incorporated in Delaware and has its business headquarters in Parsippany, New Jersey. The company's stock is publicly traded and is listed under the ticker symbol ASIX on the New York Stock Exchange.
Investors and market watchers often pay close attention to insider transactions as they can provide insights into the executives' perspective on the company's future performance. However, it's important to note that these transactions do not always indicate a change in company fundamentals, and there are various reasons why an insider might choose to sell shares.
The details of the transaction are now publicly accessible for shareholders and potential investors to review.
InvestingPro Insights
AdvanSix Inc. (NYSE:ASIX) has recently been in the spotlight due to insider trading activity, which always garners attention as it may reflect the company's internal perspective on its valuation and future prospects. In light of this, a closer look at some key financial metrics and InvestingPro Tips can provide additional context for investors considering this stock.
According to InvestingPro data, AdvanSix holds a market capitalization of $636.95 million, indicating its size within the industry. However, the company's P/E ratio stands at a lofty 280.12, which is significantly higher than the industry average, suggesting that the stock may be overvalued compared to its earnings. Additionally, the company's revenue has seen a decline of 21.27% over the last twelve months as of Q1 2024, which could be a concern for growth-focused investors.
On the positive side, an InvestingPro Tip highlights that AdvanSix has raised its dividend for 3 consecutive years, with a dividend yield of 2.68% as of the latest data, which may appeal to income-seeking investors. Furthermore, despite the challenges, analysts predict the company will be profitable this year, and it has indeed been profitable over the last twelve months.
For those interested in a deeper analysis, InvestingPro offers additional insights on AdvanSix, including more InvestingPro Tips that could help in making a well-informed investment decision. As of now, there are 9 additional tips available on InvestingPro's platform. To access these valuable insights, investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
The recent insider sale may or may not be indicative of the company's future trajectory, but by considering the broader financial data and expert analysis provided by InvestingPro, investors can better understand the potential risks and rewards associated with AdvanSix.
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