AdvanSix Inc. Declares Quarterly Dividend of $0.16 (NYSE:ASIX)

AdvanSix Inc. (NYSE:ASIX) announced a quarterly dividend on Friday, February 21st, NASDAQ Dividends reports. Investors of record on Monday, March 10th will be paid a dividend of 0.16 per share on Monday, March 24th. This represents a $0.64 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, March 10th.

AdvanSix has raised its dividend payment by an average of 72.4% annually over the last three years. AdvanSix has a payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AdvanSix to earn $4.00 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 16.0%.

AdvanSix Price Performance

Shares of ASIX stock traded up $0.47 during trading on Friday, hitting $29.78. The company had a trading volume of 196,611 shares, compared to its average volume of 101,945. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. The firm has a market capitalization of $796.02 million, a P/E ratio of 21.12 and a beta of 1.76. The stock’s 50-day moving average price is $29.63 and its 200 day moving average price is $29.73. AdvanSix has a one year low of $20.86 and a one year high of $33.00.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.40. The business had revenue of $329.06 million during the quarter, compared to analysts’ expectations of $377.15 million. AdvanSix had a return on equity of 5.59% and a net margin of 2.46%. Equities analysts expect that AdvanSix will post 1.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christopher Gramm sold 1,951 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $32.00, for a total transaction of $62,432.00. Following the completion of the transaction, the insider now directly owns 43,463 shares in the company, valued at approximately $1,390,816. This represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $30.19, for a total transaction of $150,950.00. Following the transaction, the chief executive officer now owns 502,795 shares of the company’s stock, valued at $15,179,381.05. This trade represents a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,951 shares of company stock worth $354,132 over the last three months. Insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ASIX. Piper Sandler upped their target price on AdvanSix from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

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.