AdvanSix (NYSE:ASIX) Issues Earnings Results

AdvanSix (NYSE:ASIX) released its quarterly earnings data on Friday. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $329.06 million for the quarter, compared to analysts’ expectations of $377.15 million.

AdvanSix Price Performance

Shares of NYSE ASIX opened at $29.78 on Friday. The firm has a market capitalization of $796.02 million, a P/E ratio of 21.12 and a beta of 1.76. AdvanSix has a one year low of $20.86 and a one year high of $33.00. The company’s fifty day moving average is $29.63 and its two-hundred day moving average is $29.74. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.16 per share. The ex-dividend date is Monday, March 10th. This represents a $0.64 annualized dividend and a dividend yield of 2.15%. AdvanSix’s payout ratio is currently 45.39%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of AdvanSix from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. StockNews.com upgraded shares of AdvanSix from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th.

Insider Buying and Selling

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