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

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 yield of 2.15%. The ex-dividend date is Monday, March 10th.

AdvanSix has raised its dividend by an average of 72.4% annually over the last three years. AdvanSix has a dividend payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.6 %

NYSE:ASIX traded up $0.47 during mid-day trading on Friday, hitting $29.78. The stock had a trading volume of 196,611 shares, compared to its average volume of 101,945. The stock has a 50-day simple moving average of $29.63 and a two-hundred day simple moving average of $29.73. The company has a market capitalization of $796.02 million, a PE ratio of 21.12 and a beta of 1.76. AdvanSix has a twelve month low of $20.86 and a twelve month high of $33.00. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28.

AdvanSix (NYSE:ASIX) last announced its quarterly earnings results on Friday, February 21st. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.37) by $0.40. The company had revenue of $329.06 million for the quarter, compared to analyst estimates of $377.15 million. AdvanSix had a net margin of 2.46% and a return on equity of 5.59%. On average, equities research analysts anticipate that AdvanSix will post 1.3 EPS for the current year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on ASIX. Piper Sandler increased their price target on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

About AdvanSix

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.