AdvanSix (NYSE:ASIX) Trading 6.3% Higher After Dividend Announcement

AdvanSix Inc. (NYSE:ASIX)’s stock price was up 6.3% on Monday following a dividend announcement from the company. The stock traded as high as $23.53 and last traded at $23.53. Approximately 107,182 shares were traded during trading, a decline of 29% from the average daily volume of 149,980 shares. The stock had previously closed at $22.13.

The newly announced dividend which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Monday, May 13th. AdvanSix’s payout ratio is currently 2,134.04%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of AdvanSix in a report on Tuesday, April 9th.

AdvanSix Trading Up 6.9 %

The company has a market capitalization of $634.06 million, a PE ratio of 784.59 and a beta of 1.74. The company has a current ratio of 1.38, a quick ratio of 0.71 and a debt-to-equity ratio of 0.34. The business’s 50-day simple moving average is $26.94 and its two-hundred day simple moving average is $27.06.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, February 16th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. AdvanSix had a net margin of 0.15% and a return on equity of 0.06%. The business had revenue of $382.21 million during the quarter, compared to analyst estimates of $335.80 million. On average, analysts predict that AdvanSix Inc. will post 1.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $27.69, for a total transaction of $110,760.00. Following the sale, the senior vice president now directly owns 38,996 shares in the company, valued at approximately $1,079,799.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AdvanSix news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $28.30, for a total value of $141,500.00. Following the completion of the transaction, the chief executive officer now owns 557,755 shares in the company, valued at approximately $15,784,466.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Achilles B. Kintiroglou sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $27.69, for a total transaction of $110,760.00. Following the completion of the sale, the senior vice president now owns 38,996 shares in the company, valued at approximately $1,079,799.24. The disclosure for this sale can be found here. Insiders sold a total of 21,048 shares of company stock valued at $578,848 over the last 90 days. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On AdvanSix

A number of hedge funds and other institutional investors have recently modified their holdings of ASIX. SG Americas Securities LLC lifted its position in AdvanSix by 223.6% in the third quarter. SG Americas Securities LLC now owns 19,512 shares of the company’s stock worth $606,000 after purchasing an additional 13,482 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in AdvanSix by 32.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,062 shares of the company’s stock worth $219,000 after acquiring an additional 1,732 shares during the period. Strs Ohio raised its position in AdvanSix by 2.6% in the third quarter. Strs Ohio now owns 20,100 shares of the company’s stock worth $624,000 after acquiring an additional 500 shares in the last quarter. Inspire Investing LLC lifted its holdings in AdvanSix by 10.9% in the 3rd quarter. Inspire Investing LLC now owns 11,222 shares of the company’s stock valued at $349,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of AdvanSix by 26.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,177,830 shares of the company’s stock valued at $67,687,000 after purchasing an additional 458,622 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors.

AdvanSix Company Profile

AdvanSix Inc engages in the manufacture and sale of 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, monoisopropylamine, dipropylamine, monoallylamine, alpha-methylstyrene, cyclohexanone, methyl ethyl ketoxime, acetaldehyde oxime, 2-pentanone oxime, cyclohexanol, sulfuric acid, ammonia, and carbon dioxide.