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

AdvanSix Inc. (NYSE:ASIX)’s share price traded up 6.3% during trading on Monday following a dividend announcement from the company. The company traded as high as $23.53 and last traded at $23.53. 107,182 shares were traded during mid-day trading, a decline of 29% from the average session 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 paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.64 annualized dividend and a yield of 2.68%. AdvanSix’s dividend payout ratio is presently 2,134.04%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of AdvanSix in a research report on Tuesday, April 9th.

AdvanSix Stock Up 3.0 %

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 firm’s 50-day moving average price is $26.79 and its 200 day moving average price is $27.00. The firm has a market capitalization of $640.76 million, a price-to-earnings ratio of 796.93 and a beta of 1.74.

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

Insiders Place Their Bets

In related news, SVP Achilles B. Kintiroglou sold 3,661 shares of AdvanSix stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $25.23, for a total value of $92,367.03. Following the transaction, the senior vice president now owns 35,335 shares in the company, valued at $891,502.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Achilles B. Kintiroglou sold 4,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $27.69, for a total value of $110,760.00. Following the completion of the transaction, the senior vice president now directly owns 38,996 shares in the company, valued at $1,079,799.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Achilles B. Kintiroglou sold 3,661 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $25.23, for a total transaction of $92,367.03. Following the completion of the transaction, the senior vice president now directly owns 35,335 shares of the company’s stock, valued at $891,502.05. The disclosure for this sale can be found here. Insiders have sold a total of 21,048 shares of company stock valued at $578,848 over the last quarter. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On AdvanSix

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its stake in AdvanSix by 2.0% during the 4th quarter. SG Americas Securities LLC now owns 19,900 shares of the company’s stock worth $596,000 after buying an additional 388 shares during the last quarter. Strs Ohio raised its holdings in shares of AdvanSix by 2.6% in the 3rd quarter. Strs Ohio now owns 20,100 shares of the company’s stock worth $624,000 after purchasing an additional 500 shares in the last quarter. New York State Common Retirement Fund lifted its stake in AdvanSix by 2.9% during the fourth quarter. New York State Common Retirement Fund now owns 24,364 shares of the company’s stock valued at $730,000 after purchasing an additional 698 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in shares of AdvanSix during the 4th quarter valued at $27,000. Finally, Swiss National Bank raised its position in shares of AdvanSix by 1.8% during the third quarter. Swiss National Bank now owns 60,600 shares of the company’s stock worth $1,883,000 after purchasing an additional 1,100 shares during the period. Institutional investors own 86.39% of the company’s stock.

AdvanSix Company Profile

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.