AdvanSix (NYSE:ASIX) Shares Gap Up After Dividend Announcement

AdvanSix Inc. (NYSE:ASIX)’s stock price gapped up before the market opened on Friday following a dividend announcement from the company. The stock had previously closed at $28.37, but opened at $31.00. AdvanSix shares last traded at $29.89, with a volume of 38,276 shares traded.

The newly announced dividend which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.64 annualized dividend and a dividend yield of 2.21%. AdvanSix’s dividend payout ratio is currently 213.33%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded AdvanSix from a “hold” rating to a “buy” rating in a research report on Monday, August 5th.

AdvanSix Price Performance

The business’s 50-day simple moving average is $29.30 and its two-hundred day simple moving average is $26.56. The stock has a market cap of $773.34 million, a price-to-earnings ratio of 96.47 and a beta of 1.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.39 and a quick ratio of 0.74.

AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, August 2nd. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.35. AdvanSix had a return on equity of 1.03% and a net margin of 0.57%. The company had revenue of $453.48 million for the quarter, compared to the consensus estimate of $426.80 million. During the same quarter last year, the business posted $1.18 EPS. Research analysts expect that AdvanSix Inc. will post 1.67 earnings per share for the current year.

Insider Activity

In other news, CEO Erin N. Kane sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $30.28, for a total value of $151,400.00. Following the completion of the transaction, the chief executive officer now owns 522,795 shares of the company’s stock, valued at $15,830,232.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 5,620 shares of company stock valued at $170,603. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ASIX. Copeland Capital Management LLC acquired a new stake in shares of AdvanSix during the third quarter worth $41,000. Point72 DIFC Ltd acquired a new stake in AdvanSix during the 2nd quarter worth about $34,000. Acadian Asset Management LLC bought a new position in shares of AdvanSix in the 2nd quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of AdvanSix in the 2nd quarter valued at about $51,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of AdvanSix during the 2nd quarter valued at about $51,000. 86.39% of the stock is owned by institutional investors and hedge funds.

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.