AdvanSix (NYSE:ASIX) Posts Quarterly Earnings Results, Misses Estimates By $0.32 EPS

AdvanSix (NYSE:ASIX) reported quarterly earnings of $0.08 EPS, missing estimates by $0.32. Revenue was $374.47 million, exceeding expectations of $365 million. The company's net margin was 5.10% and return on equity was 10.02%. Following the earnings report, shares fell 15.2% to $15.39. AdvanSix also announced a quarterly dividend of $0.16 per share, payable on December 2nd. Analysts have mixed ratings on the stock, with an average target price of $33.50.

AdvanSix (NYSE:ASIX - Get Free Report) issued its earnings results on Friday. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.32), FiscalAI reports. The firm had revenue of $374.47 million during the quarter, compared to analysts' expectations of $365.00 million. AdvanSix had a return on equity of 10.02% and a net margin of 5.10%.

AdvanSix Stock Down 15.2%

Shares of ASIX stock traded down $2.77 during midday trading on Friday, reaching $15.39. 1,149,062 shares of the stock were exchanged, compared to its average volume of 286,938. AdvanSix has a 1 year low of $14.80 and a 1 year high of $33.00. The firm has a market cap of $412.93 million, a PE ratio of 5.42 and a beta of 1.72. The company's 50 day moving average is $19.93 and its two-hundred day moving average is $21.54. The company has a current ratio of 1.35, a quick ratio of 0.66 and a debt-to-equity ratio of 0.29.

AdvanSix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, November 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.2%. AdvanSix's dividend payout ratio is 22.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of AdvanSix from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of AdvanSix in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, AdvanSix currently has an average rating of "Moderate Buy" and an average price target of $33.50.

Read Our Latest Report on AdvanSix

Institutional Investors Weigh In On AdvanSix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in AdvanSix by 23.2% during the first quarter. Royal Bank of Canada now owns 18,990 shares of the company's stock valued at $430,000 after buying an additional 3,575 shares during the period. AQR Capital Management LLC lifted its position in AdvanSix by 35.7% during the 1st quarter. AQR Capital Management LLC now owns 74,743 shares of the company's stock valued at $1,693,000 after acquiring an additional 19,668 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in AdvanSix by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,147 shares of the company's stock worth $343,000 after acquiring an additional 604 shares in the last quarter. Creative Planning boosted its stake in AdvanSix by 13.2% during the second quarter. Creative Planning now owns 11,961 shares of the company's stock worth $284,000 after acquiring an additional 1,399 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in AdvanSix by 3.2% in the second quarter. First Trust Advisors LP now owns 120,113 shares of the company's stock worth $2,853,000 after purchasing an additional 3,696 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.

About AdvanSix

(Get Free Report)

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.

Should You Invest $1,000 in AdvanSix Right Now?

Before you consider AdvanSix, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AdvanSix wasn't on the list.

While AdvanSix currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here