AdvanSix (NYSE:ASIX) Issues Quarterly Earnings Results, Beats Estimates By $0.40 EPS

AdvanSix (NYSE:ASIX) announced its earnings results on Friday. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.40, Zacks reports. AdvanSix had a net margin of 2.46% and a return on equity of 5.59%. The firm had revenue of $329.06 million during the quarter, compared to the consensus estimate of $377.15 million.

AdvanSix Stock Up 1.6 %

ASIX opened at $29.78 on Friday. The firm has a 50 day moving average price of $29.63 and a 200 day moving average price of $29.74. 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 1 year low of $20.86 and a 1 year high of $33.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 1.34.

AdvanSix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.16 per share. 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’s dividend payout ratio is currently 45.39%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler boosted their target price on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. StockNews.com raised shares of AdvanSix from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling

In other AdvanSix news, insider Christopher Gramm sold 1,951 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $30.19, for a total transaction of $150,950.00. Following the completion of the sale, the chief executive officer now directly owns 502,795 shares of the company’s stock, valued at $15,179,381.05. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,951 shares of company stock valued at $354,132. 5.60% of the stock is currently owned by corporate insiders.

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.