AdvanSix Inc . (NYSE:ASIX) has reported a notable transaction by one of its top executives. Achilles B. Kintiroglou, the company's Senior Vice President and General Counsel, sold shares of the company's common stock, totaling over $110,000.
The transactions, which occurred on April 1, 2024, involved Kintiroglou selling a total of 4,000 shares of AdvanSix common stock. The shares were sold at weighted average prices ranging from $27.67 to $28.53. The sales were conducted under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information.
The transactions resulted in Kintiroglou receiving a total of $110,766 from the sale of his shares. Following these transactions, the executive still holds a substantial number of shares, indicating continued vested interest in the company's performance.
AdvanSix Inc. is a manufacturer of nylon 6 resins and chemical intermediates, with its stock traded on the New York Stock Exchange under the ticker symbol NYSE:ASIX. The company's products are utilized in a wide range of applications, including automotive components, plastics, and fibers.
Investors often watch the buying and selling activity of company executives as it can provide insights into their perspective on the company's current valuation and future prospects. However, transactions under 10b5-1 trading plans are typically scheduled in advance and may not always reflect the executive's discretionary trading based on current market events or company performance.
The details of the transactions are publicly available and provide transparency to shareholders and the market regarding the financial activities of the company's insiders.
InvestingPro Insights
Following the recent insider transactions at AdvanSix Inc. (NYSE:ASIX), investors may take interest in several key metrics and insights that could provide further context to the company's financial health and future outlook. According to real-time data from InvestingPro, AdvanSix currently holds a market capitalization of $725.44 million, with a Price/Earnings (P/E) ratio of 13.69. This P/E ratio has seen a slight decrease to 13.28 when looking at the last twelve months as of Q4 2023, suggesting a modest improvement in earnings relative to the company's share price.
In terms of profitability, AdvanSix has been profitable over the last twelve months, and analysts predict the company will continue to be profitable this year. This aligns with the InvestingPro Tips that highlight management's confidence in the company, as evidenced by their aggressive share buybacks. Moreover, the company has raised its dividend for 3 consecutive years, with a current dividend yield of 2.24% as of early 2024, reflecting a commitment to returning value to shareholders.
While these factors may paint a positive picture, it's also important to note that three analysts have revised their earnings downwards for the upcoming period, and the company suffers from weak gross profit margins, which stand at 10.76% for the last twelve months as of Q4 2023. The stock's price movements have been quite volatile, which could be a point of consideration for potential investors.
For those interested in a deeper analysis, InvestingPro offers additional insights and metrics, including more InvestingPro Tips for AdvanSix. To explore these further, visit https://www.investing.com/pro/ASIX and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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