AdvanSix Inc. (NYSE:ASIX) to Issue $0.13 Quarterly Dividend

AdvanSix Inc. (NYSE:ASIX – Get Rating) announced a quarterly dividend on Friday, May 6th, Zacks reports. Shareholders of record on Tuesday, May 17th will be paid a dividend of 0.125 per share on Tuesday, May 31st. This represents a $0.50 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, May 16th.

AdvanSix has a dividend payout ratio of 8.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect AdvanSix to earn $5.92 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 8.4%.

NYSE:ASIX opened at $46.48 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 1.13. The company has a market cap of $1.31 billion, a PE ratio of 9.64 and a beta of 1.76. AdvanSix has a 52-week low of $27.22 and a 52-week high of $57.10. The stock has a 50-day simple moving average of $48.89 and a 200 day simple moving average of $46.08.

AdvanSix (NYSE:ASIX – Get Rating) last released its quarterly earnings results on Friday, February 18th. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.01). AdvanSix had a return on equity of 25.83% and a net margin of 8.30%. The firm had revenue of $424.06 million for the quarter, compared to analyst estimates of $408.30 million. During the same period in the previous year, the business posted $0.94 earnings per share. On average, research analysts predict that AdvanSix will post 7.86 earnings per share for the current fiscal year.

In related news, insider Christopher Gramm sold 1,000 shares of the firm’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $50.55, for a total value of $50,550.00. Following the transaction, the insider now directly owns 40,765 shares of the company’s stock, valued at approximately $2,060,670.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ASIX. Barclays PLC raised its stake in shares of AdvanSix by 6.7% during the fourth quarter. Barclays PLC now owns 40,360 shares of the company’s stock valued at $1,907,000 after acquiring an additional 2,547 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new position in AdvanSix in the fourth quarter worth $580,000. Allianz Asset Management GmbH grew its holdings in AdvanSix by 177.8% in the fourth quarter. Allianz Asset Management GmbH now owns 286,544 shares of the company’s stock worth $13,539,000 after purchasing an additional 183,378 shares during the last quarter. California State Teachers Retirement System grew its holdings in AdvanSix by 2.5% in the fourth quarter. California State Teachers Retirement System now owns 38,772 shares of the company’s stock worth $1,832,000 after purchasing an additional 946 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of AdvanSix by 50.6% during the fourth quarter. Parametric Portfolio Associates LLC now owns 106,361 shares of the company’s stock valued at $5,026,000 after buying an additional 35,745 shares during the last quarter. 82.19% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on the company. Piper Sandler upped their price target on AdvanSix from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, March 14th. Stifel Nicolaus increased their price objective on AdvanSix from $64.00 to $76.00 in a research report on Friday, March 11th. Finally, StockNews.com assumed coverage on AdvanSix in a research note on Thursday, March 31st. They issued a “buy” rating on the stock.

AdvanSix Company Profile (Get Rating)

AdvanSix Inc manufactures and sells 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, alpha-methyl styrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.

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