AdvanSix Inc. (ASIX) To Go Ex-Dividend on March 10th

AdvanSix Inc. (NYSE:ASIX) declared a quarterly dividend on Friday, February 21st, NASDAQ Dividends reports. Investors of record on Monday, March 10th will be given a dividend of 0.16 per share on Monday, March 24th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, March 10th.

AdvanSix has raised its dividend by an average of 72.4% per year over the last three years. AdvanSix has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AdvanSix to earn $4.00 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 16.0%.

AdvanSix Stock Up 1.6 %

NYSE:ASIX opened at $29.78 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34. The company has a market cap of $796.02 million, a PE ratio of 21.12 and a beta of 1.76. AdvanSix has a 52-week low of $20.86 and a 52-week high of $33.00. The stock has a 50-day simple moving average of $29.63 and a 200 day simple moving average of $29.74.

AdvanSix (NYSE:ASIX) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.37) by $0.40. AdvanSix had a return on equity of 5.59% and a net margin of 2.46%. The firm had revenue of $329.06 million during the quarter, compared to analysts’ expectations of $377.15 million. On average, sell-side analysts expect that AdvanSix will post 1.3 EPS for the current fiscal year.

Insider Activity

In other news, insider Christopher Gramm sold 1,951 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $32.00, for a total value of $62,432.00. Following the completion of the sale, the insider now directly owns 43,463 shares of the company’s stock, valued at $1,390,816. This trade represents a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Erin N. Kane sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $28.15, for a total value of $140,750.00. Following the completion of the sale, the chief executive officer now directly owns 507,795 shares of the company’s stock, valued at approximately $14,294,429.25. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,951 shares of company stock valued at $354,132 over the last three months. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ASIX. StockNews.com raised AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler increased their price target on AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, November 8th.

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.