AdvanSix Inc. (NYSE:ASIX - Get Free Report)'s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $21.30, but opened at $23.18. AdvanSix shares last traded at $23.39, with a volume of 60,312 shares changing hands.
The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.40. The company had revenue of $329.06 million for the quarter, compared to analysts' expectations of $377.15 million. AdvanSix had a return on equity of 6.26% and a net margin of 2.91%.
AdvanSix Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.81%. The ex-dividend date is Tuesday, May 13th. AdvanSix's dividend payout ratio (DPR) is presently 20.51%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Piper Sandler downgraded AdvanSix from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $35.00 to $26.00 in a research note on Monday, April 7th. StockNews.com cut shares of AdvanSix from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, UBS Group set a $35.00 price objective on AdvanSix in a research note on Tuesday, March 18th.
Read Our Latest Report on AdvanSix
Insiders Place Their Bets
In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $22.24, for a total value of $88,960.00. Following the completion of the transaction, the senior vice president now directly owns 36,363 shares in the company, valued at approximately $808,713.12. This represents a 9.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.60% of the company's stock.
Institutional Trading of AdvanSix
Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of AdvanSix by 149.5% in the 1st quarter. GAMMA Investing LLC now owns 1,966 shares of the company's stock valued at $45,000 after purchasing an additional 1,178 shares during the period. AlphaQuest LLC bought a new position in AdvanSix in the fourth quarter valued at about $94,000. KLP Kapitalforvaltning AS purchased a new position in AdvanSix in the fourth quarter worth about $137,000. State of Wyoming bought a new stake in shares of AdvanSix during the 4th quarter valued at about $156,000. Finally, BOKF NA bought a new position in shares of AdvanSix in the 4th quarter worth approximately $217,000. Hedge funds and other institutional investors own 86.39% of the company's stock.
AdvanSix Stock Performance
The business's fifty day moving average is $22.37 and its 200-day moving average is $27.33. The company has a quick ratio of 0.49, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. The company has a market cap of $610.55 million, a PE ratio of 14.28 and a beta of 1.59.
About AdvanSix
(
Get Free Report)
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.
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