Erin N. Kane, the Chief Executive Officer of AdvanSix Inc . (NYSE:ASIX), recently sold 5,000 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The sale comes as the stock trades near its 52-week high of $33, having delivered a strong 38.57% return over the past six months. According to InvestingPro analysis, the company maintains a GOOD financial health score. The transaction, executed on December 2, 2024, was conducted under a Rule 10b5-1 trading plan that Kane adopted in December 2023. The shares were sold at a weighted average price of $32.29, with individual sale prices ranging from $31.98 to $32.65. Following this sale, Kane retains ownership of 512,795 shares in the company, representing a significant portion of AdvanSix's $859 million market capitalization. InvestingPro subscribers can access the complete financial analysis and additional insights through the comprehensive Pro Research Report, available for over 1,400 US stocks.
"In other recent news, chemical manufacturer AdvanSix reported a 23% year-over-year increase in sales, totaling $398 million in the third quarter. The growth was driven by an 11% surge in Ammonium Sulfate volume and favorable pricing conditions. The company's adjusted EBITDA was $53 million, with a margin of 13.4%, while adjusted earnings per share rose to $0.88. Financial services firm Piper Sandler has subsequently increased AdvanSix's stock price target from $35.00 to $39.00, maintaining an Overweight rating on the company's shares. This rating suggests that Piper Sandler's analysts expect AdvanSix's stock to outperform the average return of the stocks that the firm covers over the next 12 to 18 months. In addition to its financial performance, AdvanSix has received a $12 million USDA grant to bolster its SUSTAIN program and introduced a new CFO, Sidd Manjeshwar. Despite operational challenges at the Hopewell facility, the company anticipates a favorable demand environment for Ammonium Sulfate and plans to increase its production by approximately 200,000 tons annually."
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