AdvanSix (NYSE:ASIX) Releases Earnings Results, Beats Expectations By $0.40 EPS

AdvanSix (NYSE:ASIX) announced its quarterly earnings data on Friday. The company reported $0.03 earnings per share (EPS) for the quarter, beating 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%.

AdvanSix Stock Down 0.7 %

Shares of ASIX traded down $0.21 during mid-day trading on Friday, hitting $29.10. 75,277 shares of the company’s stock were exchanged, compared to its average volume of 117,920. The company has a market cap of $777.79 million, a price-to-earnings ratio of 20.60 and a beta of 1.76. AdvanSix has a fifty-two week low of $20.86 and a fifty-two week 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. The stock’s 50-day moving average is $29.66 and its 200-day moving average is $29.72.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ASIX. StockNews.com raised shares of AdvanSix from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Piper Sandler upped their target price 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.

Insider Transactions at AdvanSix

In other news, insider Christopher Gramm sold 1,951 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $32.00, for a total transaction of $62,432.00. Following the sale, the insider now owns 43,463 shares of the company’s stock, valued at approximately $1,390,816. This represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Erin N. Kane sold 5,000 shares of the firm’s 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 in the company, valued at approximately $15,179,381.05. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,951 shares of company stock valued at $354,132. 5.60% of the stock is currently owned by corporate insiders.

About AdvanSix

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.