AdvanSix (NYSE:ASIX) Trading 6.3% Higher After Dividend Announcement

Shares of AdvanSix Inc. (NYSE:ASIX - Get Free Report) rose 6.3% on Monday after the company announced a dividend. The company traded as high as $23.53 and last traded at $23.53. Approximately 107,182 shares were traded during 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 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Monday, May 13th. AdvanSix's dividend payout ratio is currently 2,134.04%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reaffirmed a "buy" rating and set a $40.00 price target on shares of AdvanSix in a report on Tuesday, April 9th.

AdvanSix Stock Up 4.9 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 0.71. The company has a market capitalization of $622.26 million, a price-to-earnings ratio of 788.60 and a beta of 1.74. The firm's fifty day moving average price is $26.94 and its 200-day moving average price is $27.06.

AdvanSix (NYSE:ASIX - Get Free Report) last issued its earnings results on Friday, February 16th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.02. AdvanSix had a return on equity of 0.06% and a net margin of 0.15%. The business had revenue of $382.21 million during the quarter, compared to analysts' expectations of $335.80 million. Sell-side analysts expect that AdvanSix Inc. will post 1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at AdvanSix

In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $27.80, for a total value 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 $1,195,288.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Achilles B. Kintiroglou sold 4,000 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now owns 42,996 shares in the company, valued at $1,195,288.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Erin N. Kane sold 5,000 shares of the business's stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $28.30, for a total transaction of $141,500.00. Following the completion of the transaction, the chief executive officer now owns 557,755 shares in the company, valued at $15,784,466.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,048 shares of company stock worth $578,848. 5.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AdvanSix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of AdvanSix by 26.7% in the third quarter. Victory Capital Management Inc. now owns 2,177,830 shares of the company's stock worth $67,687,000 after buying an additional 458,622 shares in the last quarter. Donald Smith & CO. Inc. purchased a new stake in shares of AdvanSix in the 4th quarter valued at about $4,191,000. First Eagle Investment Management LLC boosted its position 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 valued at $12,206,000 after acquiring an additional 131,400 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of AdvanSix during the third quarter worth about $4,081,000. Finally, Richard Bernstein Advisors LLC bought a new stake in AdvanSix during the third quarter valued at approximately $2,370,000. 86.39% of the stock is currently owned by institutional investors.

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.