AdvanSix Declares Quarterly Dividend of $0.16 (NYSE:ASIX)

Key Points

• AdvanSix declared a quarterly dividend of $0.16 per share, payable September 1 to shareholders of record on August 18. The dividend implies an annualized payout of $0.64 and a yield of approximately 3.9%.
• The dividend appears well covered, with a current payout ratio of 16.0%; analysts expect a 28.1% forward payout ratio based on projected earnings of $2.28 per share next year.
• Shares fell $3.61 to $16.53, while the company’s latest quarterly EPS loss of $0.50 narrowly missed estimates. Institutional investors own 86.39% of AdvanSix’s stock.

AdvanSix (NYSE:ASIX - Get Free Report) declared a quarterly dividend on Friday, August 7th. Investors of record on Tuesday, August 18th will be given a dividend of 0.16 per share on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, August 18th.

AdvanSix has a dividend payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect AdvanSix to earn $2.28 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 28.1%.

AdvanSix Stock Performance

AdvanSix stock traded down $3.61 during trading on Friday, hitting $16.53. The stock had a trading volume of 718,970 shares, compared to its average volume of 355,653. The stock's 50 day moving average is $20.76 and its two-hundred day moving average is $20.82. AdvanSix has a 1 year low of $14.10 and a 1 year high of $26.73. The stock has a market cap of $445.54 million, a price-to-earnings ratio of 44.67 and a beta of 1.29. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 0.34.

AdvanSix (NYSE:ASIX - Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.02). AdvanSix had a return on equity of 2.18% and a net margin of 0.67%.The firm had revenue of $404.18 million during the quarter, compared to analysts' expectations of $364.90 million. As a group, analysts predict that AdvanSix will post 0.85 EPS for the current year.

Hedge Funds Weigh In On AdvanSix

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in AdvanSix during the 2nd quarter worth about $29,000. Osaic Holdings Inc. increased its position in shares of AdvanSix by 60.2% during the second quarter. Osaic Holdings Inc. now owns 1,285 shares of the company's stock valued at $31,000 after buying an additional 483 shares during the period. Hantz Financial Services Inc. increased its position in shares of AdvanSix by 90.0% during the fourth quarter. Hantz Financial Services Inc. now owns 2,358 shares of the company's stock valued at $41,000 after buying an additional 1,117 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of AdvanSix by 27,537.5% in the third quarter. CIBC Private Wealth Group LLC now owns 2,211 shares of the company's stock worth $43,000 after buying an additional 2,203 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of AdvanSix by 144.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,385 shares of the company's stock worth $57,000 after buying an additional 1,408 shares in the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

About AdvanSix

AdvanSix, Inc NYSE: ASIX is an integrated chemical manufacturer specializing in the production of nylon 6 intermediates and related co‐products. Established as a publicly traded spin‐off from Honeywell Specialty Chemicals in June 2016, the company is headquartered in Parsippany, New Jersey.

The company’s principal product is caprolactam, the key building block for nylon 6 resin, used in fibers and engineering plastics across industries. In addition to caprolactam and nylon 6 resin, AdvanSix produces ammonium sulfate fertilizer and industrial chemicals such as phenol and acetone.

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