AdvanSix (NYSE:ASIX) Shares Up 6.3% After Dividend Announcement

AdvanSix Inc. (NYSE:ASIX) traded up 6.3% during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $23.53 and last traded at $23.53. 107,182 shares changed hands during mid-day trading, a decline of 29% from the average session 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. Shareholders of record on Tuesday, May 14th will be issued a $0.16 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.64 dividend on an annualized basis and a yield of 2.71%. AdvanSix’s dividend payout ratio (DPR) is 2,134.04%.

Analyst Upgrades and Downgrades

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

AdvanSix Price Performance

The company has a 50-day moving average of $26.94 and a two-hundred day moving average of $27.06. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 0.71. The stock has a market capitalization of $634.06 million, a PE ratio of 788.60 and a beta of 1.74.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings data on Friday, February 16th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $335.80 million. Sell-side analysts predict that AdvanSix Inc. will post 1.04 EPS for the current fiscal year.

Insider Buying and Selling at AdvanSix

In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $27.80, for a total transaction of $111,200.00. Following the completion of the sale, the senior vice president now directly owns 42,996 shares in the company, valued at approximately $1,195,288.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $28.30, for a total transaction of $141,500.00. Following the sale, the chief executive officer now directly owns 557,755 shares in the company, valued at approximately $15,784,466.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Achilles B. Kintiroglou sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $27.80, for a total value of $111,200.00. Following the completion of the transaction, the senior vice president now owns 42,996 shares of the company’s stock, valued at approximately $1,195,288.80. The disclosure for this sale can be found here. Insiders have sold a total of 21,048 shares of company stock worth $578,848 in the last quarter. 5.20% of the stock is owned by insiders.

Institutional Trading of AdvanSix

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in AdvanSix by 18.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,579,152 shares of the company’s stock valued at $77,271,000 after buying an additional 401,322 shares during the last quarter. American Century Companies Inc. grew its position in shares of AdvanSix by 9.2% in the 3rd quarter. American Century Companies Inc. now owns 451,565 shares of the company’s stock worth $14,035,000 after acquiring an additional 38,083 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of AdvanSix by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 437,393 shares of the company’s stock valued at $13,104,000 after acquiring an additional 24,543 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in AdvanSix by 47.6% during the fourth quarter. First Eagle Investment Management LLC now owns 407,407 shares of the company’s stock worth $12,206,000 after purchasing an additional 131,400 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its stake in AdvanSix by 2.2% during the third quarter. Thompson Siegel & Walmsley LLC now owns 249,741 shares of the company’s stock worth $7,762,000 after purchasing an additional 5,387 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

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.