AdvanSix (NYSE:ASIX) Trading Up 12.5% Following Dividend Announcement

Key Points

• AdvanSix shares jumped 12.5% after the company announced a dividend, with the stock trading as high as $22.63 during the session.
• The company declared a $0.16 per share dividend, payable June 2 to shareholders of record on May 19, for an annualized yield of about 2.8%.
• In its latest quarterly results, AdvanSix missed earnings estimates with EPS of ($0.50) versus expectations of ($0.48), though revenue came in above forecasts at $404.18 million.

AdvanSix (NYSE:ASIX - Get Free Report)'s share price rose 12.5% on Monday after the company announced a dividend. The company traded as high as $22.63 and last traded at $22.8650. Approximately 140,337 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 424,647 shares. The stock had previously closed at $20.32.The newly announced dividend which will be paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, May 19th. AdvanSix's dividend payout ratio is presently 172.97%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ASIX shares. Loop Capital set a $25.00 price objective on AdvanSix in a report on Thursday, March 12th. Truist Financial increased their price objective on AdvanSix from $19.00 to $20.00 and gave the company a "hold" rating in a report on Monday, February 23rd. Wall Street Zen downgraded AdvanSix from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings upgraded AdvanSix from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, AdvanSix has an average rating of "Hold" and an average price target of $25.67.

AdvanSix Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 1.23. The stock has a fifty day simple moving average of $22.28 and a two-hundred day simple moving average of $18.96. The stock has a market capitalization of $615.50 million, a price-to-earnings ratio of 61.71 and a beta of 1.33.

AdvanSix (NYSE:ASIX - Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.50) earnings per share 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 business had revenue of $404.18 million for the quarter, compared to analyst estimates of $364.90 million.

Institutional Trading of AdvanSix

A number of large investors have recently bought and sold shares of ASIX. Aegis Financial Corp acquired a new stake in AdvanSix during the 4th quarter worth about $20,927,000. Millennium Management LLC acquired a new stake in AdvanSix during the 4th quarter worth about $11,479,000. Alliancebernstein L.P. boosted its position in shares of AdvanSix by 55.3% during the 3rd quarter. Alliancebernstein L.P. now owns 948,491 shares of the company's stock worth $18,382,000 after purchasing an additional 337,908 shares in the last quarter. Invenomic Capital Management LP bought a new position in shares of AdvanSix during the 3rd quarter worth about $6,054,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of AdvanSix by 149.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 378,610 shares of the company's stock worth $6,550,000 after purchasing an additional 226,756 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.

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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