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.
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.
- Get a free copy of the StockNews.com research report on AdvanSix (ASIX)
- Three Stocks To Ride Out A Rough Market
- MarketBeat: Week in Review 5/2 – 5/6
- AMD (NASDAQ: AMD) Shines Green In A Sea Of Red
- Expedia or Bookings Holdings: Which Stock Should You Travel With?
- Is This The Bottom For Papa John’s International?
Receive News & Ratings for AdvanSix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AdvanSix and related companies with MarketBeat.com's FREE daily email newsletter.