AdvanSix (NYSE:ASIX) Issues Earnings Results, Misses Expectations By $0.32 EPS

AdvanSix (NYSE:ASIX) released its earnings results on Friday. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.32), FiscalAI reports. The business had revenue of $374.47 million for the quarter, compared to analyst estimates of $365.00 million. AdvanSix had a return on equity of 10.02% and a net margin of 5.10%.

AdvanSix Stock Performance

NYSE ASIX opened at $15.39 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.35 and a debt-to-equity ratio of 0.29. AdvanSix has a fifty-two week low of $14.80 and a fifty-two week high of $33.00. The business has a fifty day moving average of $19.93 and a 200-day moving average of $21.54. The stock has a market cap of $412.93 million, a price-to-earnings ratio of 8.01 and a beta of 1.72.

AdvanSix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $0.64 annualized dividend and a yield of 4.2%. AdvanSix’s dividend payout ratio (DPR) is presently 22.54%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of AdvanSix by 0.5% during the third quarter. Vanguard Group Inc. now owns 1,990,011 shares of the company’s stock worth $38,566,000 after buying an additional 10,642 shares in the last quarter. JPMorgan Chase & Co. grew its stake in AdvanSix by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 72,116 shares of the company’s stock worth $1,398,000 after acquiring an additional 4,367 shares during the period. Osaic Holdings Inc. raised its holdings in AdvanSix by 60.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,285 shares of the company’s stock valued at $31,000 after acquiring an additional 483 shares during the last quarter. State of Wyoming lifted its stake in shares of AdvanSix by 21.9% during the 2nd quarter. State of Wyoming now owns 12,030 shares of the company’s stock worth $286,000 after purchasing an additional 2,164 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in shares of AdvanSix by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 91,043 shares of the company’s stock worth $2,162,000 after purchasing an additional 6,257 shares during the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ASIX. Wall Street Zen downgraded shares of AdvanSix from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of AdvanSix in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, AdvanSix has an average rating of “Moderate Buy” and an average price target of $33.50.

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.