AdvanSix (ASIX) to Issue Quarterly Dividend of $0.16 on June 2nd

AdvanSix (NYSE:ASIX) announced a quarterly dividend on Friday, May 8th. Stockholders of record on Tuesday, May 19th will be given a dividend of 0.16 per share on Tuesday, June 2nd. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, May 19th.

AdvanSix has a payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AdvanSix to earn $2.32 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 27.6%.

AdvanSix Price Performance

ASIX opened at $21.59 on Friday. AdvanSix has a one year low of $14.10 and a one year high of $26.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.23 and a quick ratio of 0.68. The company’s 50 day simple moving average is $22.69 and its 200-day simple moving average is $19.06. The stock has a market capitalization of $582.04 million, a P/E ratio of 58.35 and a beta of 1.33.

AdvanSix (NYSE:ASIX) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.02). AdvanSix had a net margin of 0.67% and a return on equity of 2.18%. The company had revenue of $404.18 million for the quarter, compared to the consensus estimate of $364.90 million. Sell-side analysts anticipate that AdvanSix will post 0.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ASIX has been the topic of several research analyst reports. Truist Financial increased their price target on shares of AdvanSix from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings cut shares of AdvanSix from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Zacks Research raised shares of AdvanSix to a “hold” rating in a research note on Tuesday, May 12th. Loop Capital set a $25.00 price target on shares of AdvanSix in a research note on Thursday, March 12th. Finally, Wall Street Zen cut shares of AdvanSix from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, AdvanSix presently has an average rating of “Hold” and a consensus price target of $25.67.

AdvanSix Company Profile

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.