AdvanSix Inc. (ASIX) To Go Ex-Dividend on May 16th

AdvanSix Inc. (NYSE:ASIXGet Rating) declared 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 of this dividend is Monday, May 16th.

AdvanSix has a dividend payout ratio of 7.8% meaning its dividend is sufficiently covered by earnings. Analysts expect AdvanSix to earn $7.09 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 7.1%.

Shares of AdvanSix stock opened at $46.38 on Friday. The company has a market capitalization of $1.30 billion, a PE ratio of 7.74 and a beta of 1.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.81 and a current ratio of 1.34. The company has a 50-day simple moving average of $49.26 and a two-hundred day simple moving average of $46.08. AdvanSix has a one year low of $27.22 and a one year high of $57.10.

AdvanSix (NYSE:ASIXGet Rating) last issued its earnings results on Friday, February 18th. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). The firm had revenue of $424.06 million during the quarter, compared to analysts’ expectations of $408.30 million. AdvanSix had a net margin of 9.78% and a return on equity of 29.76%. During the same quarter in the prior year, the company earned $0.94 EPS. On average, equities analysts predict that AdvanSix will post 8.38 earnings per share for the current fiscal year.

ASIX has been the topic of a number of recent research reports. Piper Sandler upped their target price on AdvanSix from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, March 14th. raised AdvanSix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Zacks Investment Research downgraded AdvanSix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their price objective on AdvanSix from $64.00 to $76.00 in a report on Friday, March 11th.

In other news, insider Christopher Gramm sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $50.55, for a total value of $50,550.00. Following the sale, the insider now directly owns 40,765 shares of the company’s stock, valued at approximately $2,060,670.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.50% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of AdvanSix by 57.6% in the 2nd quarter. Royal Bank of Canada now owns 3,137 shares of the company’s stock valued at $94,000 after acquiring an additional 1,146 shares during the period. LPL Financial LLC purchased a new stake in shares of AdvanSix in the 3rd quarter valued at approximately $202,000. Private Advisor Group LLC purchased a new stake in shares of AdvanSix in the 1st quarter valued at approximately $221,000. Bank of Montreal Can raised its stake in shares of AdvanSix by 16.0% in the 1st quarter. Bank of Montreal Can now owns 8,967 shares of the company’s stock valued at $461,000 after acquiring an additional 1,236 shares during the period. Finally, Oliver Luxxe Assets LLC purchased a new stake in shares of AdvanSix in the 4th quarter valued at approximately $580,000. 82.19% of the stock is currently owned by institutional investors and hedge funds.

About AdvanSix (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.

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