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

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

Analysts Set New Price Targets

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

AdvanSix Price Performance

The business has a 50-day moving average price of $26.94 and a two-hundred day moving average price of $27.06. The company has a quick ratio of 0.71, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $634.06 million, a price-to-earnings ratio of 784.59 and a beta of 1.74.

AdvanSix (NYSE:ASIX) last released its quarterly earnings data on Friday, February 16th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The firm had revenue of $382.21 million for the quarter, compared to analyst estimates of $335.80 million. AdvanSix had a net margin of 0.15% and a return on equity of 0.06%. As a group, research analysts anticipate that AdvanSix Inc. will post 1.04 EPS for the current year.

Insider Activity at AdvanSix

In other AdvanSix news, SVP Achilles B. Kintiroglou sold 4,000 shares of the firm’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 transaction, the senior vice president now directly owns 42,996 shares in the company, valued at approximately $1,195,288.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $27.80, for a total transaction of $111,200.00. Following the completion of the transaction, the senior vice president now directly owns 42,996 shares of the company’s stock, valued at approximately $1,195,288.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Erin N. Kane sold 1,385 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $27.96, for a total value of $38,724.60. Following the completion of the sale, the chief executive officer now owns 556,370 shares in the company, valued at $15,556,105.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,048 shares of company stock valued at $578,848. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in AdvanSix by 26.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,177,830 shares of the company’s stock valued at $67,687,000 after purchasing an additional 458,622 shares during the last quarter. Donald Smith & CO. Inc. purchased a new position in shares of AdvanSix in the fourth quarter worth approximately $4,191,000. First Eagle Investment Management LLC boosted its stake in shares of AdvanSix by 47.6% during the 4th quarter. First Eagle Investment Management LLC now owns 407,407 shares of the company’s stock worth $12,206,000 after acquiring an additional 131,400 shares during the last quarter. Wellington Management Group LLP bought a new stake in AdvanSix during the third quarter valued at about $4,081,000. Finally, Richard Bernstein Advisors LLC purchased a new stake in AdvanSix in the 3rd quarter worth approximately $2,370,000. 86.39% of the stock is currently owned by institutional investors.

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.