AdvanSix (NYSE:ASIX) Issues Earnings Results, Misses Estimates By $0.32 EPS

AdvanSix (NYSE:ASIX) announced its quarterly earnings data on Friday. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.32), FiscalAI reports. AdvanSix had a net margin of 5.10% and a return on equity of 10.02%. The company had revenue of $374.47 million for the quarter, compared to analysts’ expectations of $365.00 million.

AdvanSix Stock Performance

Shares of AdvanSix stock traded down $2.77 during trading on Friday, hitting $15.39. 1,149,062 shares of the company’s stock traded hands, compared to its average volume of 286,938. AdvanSix has a 1 year low of $14.80 and a 1 year high of $33.00. The business has a 50-day simple moving average of $19.93 and a 200-day simple moving average of $21.54. The stock has a market capitalization of $412.93 million, a P/E ratio of 5.42 and a beta of 1.72. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.35 and a quick ratio of 0.66.

AdvanSix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, November 18th. AdvanSix’s dividend payout ratio is presently 22.54%.

Institutional Trading of AdvanSix

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of AdvanSix by 23.2% in the first quarter. Royal Bank of Canada now owns 18,990 shares of the company’s stock worth $430,000 after acquiring an additional 3,575 shares during the period. AQR Capital Management LLC lifted its position in AdvanSix by 35.7% during the first quarter. AQR Capital Management LLC now owns 74,743 shares of the company’s stock valued at $1,693,000 after purchasing an additional 19,668 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in AdvanSix by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company’s stock valued at $343,000 after purchasing an additional 604 shares during the period. Creative Planning boosted its holdings in AdvanSix by 13.2% in the second quarter. Creative Planning now owns 11,961 shares of the company’s stock worth $284,000 after purchasing an additional 1,399 shares during the last quarter. Finally, First Trust Advisors LP grew its position in AdvanSix by 3.2% in the 2nd quarter. First Trust Advisors LP now owns 120,113 shares of the company’s stock worth $2,853,000 after purchasing an additional 3,696 shares during the period. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of AdvanSix in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.50.

About AdvanSix

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.