AdvanSix said on August 4, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Previously, the company paid $0.14 per share.
Shares must be purchased before the ex-div date of August 14, 2023 to qualify for the dividend. Shareholders of record as of August 15, 2023 will receive the payment on August 29, 2023.
At the current share price of $35.97 / share, the stock's dividend yield is 1.78%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.31%, the lowest has been 0.91%, and the highest has been 6.79%. The standard deviation of yields is 1.19 (n=236).
The current dividend yield is 0.44 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.17. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 634 funds or institutions reporting positions in AdvanSix. This is a decrease of 14 owner(s) or 2.16% in the last quarter. Average portfolio weight of all funds dedicated to ASIX is 0.11%, a decrease of 3.44%. Total shares owned by institutions increased in the last three months by 7.59% to 29,561K shares. 
The put/call ratio of ASIX is 0.80, indicating a bullish outlook.
Analyst Price Forecast Suggests 44.62% Upside
As of August 2, 2023, the average one-year price target for AdvanSix is 52.02. The forecasts range from a low of 48.48 to a high of $57.75. The average price target represents an increase of 44.62% from its latest reported closing price of 35.97.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for AdvanSix is 1,946MM, an increase of 13.71%. The projected annual non-GAAP EPS is 6.63.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,005K shares representing 7.37% ownership of the company. In it's prior filing, the firm reported owning 2,043K shares, representing a decrease of 1.91%. The firm decreased its portfolio allocation in ASIX by 4.03% over the last quarter.
Victory Capital Management holds 1,719K shares representing 6.32% ownership of the company. In it's prior filing, the firm reported owning 500K shares, representing an increase of 70.94%. The firm increased its portfolio allocation in ASIX by 88.98% over the last quarter.
Alliancebernstein holds 905K shares representing 3.32% ownership of the company. In it's prior filing, the firm reported owning 960K shares, representing a decrease of 6.15%. The firm decreased its portfolio allocation in ASIX by 23.60% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 789K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 790K shares, representing a decrease of 0.12%. The firm decreased its portfolio allocation in ASIX by 7.17% over the last quarter.
Wasatch Advisors holds 601K shares representing 2.21% ownership of the company. In it's prior filing, the firm reported owning 604K shares, representing a decrease of 0.65%. The firm decreased its portfolio allocation in ASIX by 7.50% over the last quarter.
AdvanSix Background Information
(This description is provided by the company.)
AdvanSix is a leading manufacturer of Nylon 6, a polymer resin which is a synthetic material used by our customers to produce fibers, filaments, engineered plastics and films that, in turn, are used in such end-products as carpets, automotive and electronic components, sports apparel, food packaging and other industrial applications. As a result of our backward integration and the configuration of our manufacturing facilities, we also sell caprolactam, ammonium sulfate fertilizer, acetone and other intermediate chemicals, all of which are produced within unit operations across our integrated manufacturing value chain.
Additional reading:
- ADVANSIX ANNOUNCES SECOND QUARTER 2023 FINANCIAL RESULTS Sales of $428 million, down 27% versus prior year Earnings Per Share of $1.16; Adjusted Earnings Per Share of $1.25 Returned $19 million of cash to shareholders through repurchases and dividend
- First Amendment to Credit Agreement, dated as of June 27, 2023, among AdvanSix Inc., the lenders party thereto and Truist Bank, as administrative agent (with annexed Amended and Restated Credit Agreement)
- Amended and Restated By-laws of AdvanSix Inc. (effective as of June 16, 2023)
- AdvanSix Hopewell South Employees Ratify New Comprehensive and Competitive Five-Year Agreement
- ADVANSIX ANNOUNCES FIRST QUARTER 2023 FINANCIAL RESULTS Sales of $401 million, down 16% versus prior year Earnings Per Share of $1.22; Adjusted Earnings Per Share of $1.30 Returned $18 million of cash to shareholders through repurchases and dividends
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
