Algert Global LLC Takes Position in Avient Co. (NYSE:AVNT)

Algert Global LLC purchased a new position in shares of Avient Co. (NYSE:AVNT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,281 shares of the company's stock, valued at approximately $338,000.

A number of other large investors also recently bought and sold shares of the stock. Choreo LLC raised its stake in Avient by 4.3% during the fourth quarter. Choreo LLC now owns 5,812 shares of the company's stock worth $237,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Avient by 56.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock valued at $28,000 after acquiring an additional 250 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Avient by 4.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company's stock valued at $270,000 after acquiring an additional 256 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Avient by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company's stock valued at $227,000 after acquiring an additional 258 shares during the period. Finally, Gallagher Fiduciary Advisors LLC raised its stake in shares of Avient by 8.4% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 7,612 shares of the company's stock valued at $311,000 after acquiring an additional 591 shares during the period. Hedge funds and other institutional investors own 95.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Baird R W raised shares of Avient to a "hold" rating in a research note on Friday, March 14th. Robert W. Baird assumed coverage on shares of Avient in a research note on Friday, March 14th. They issued a "neutral" rating and a $43.00 target price on the stock. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company raised their target price on shares of Avient from $39.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley cut their target price on shares of Avient from $51.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.

Avient Stock Down 0.6%

Avient stock traded down $0.21 during midday trading on Friday, hitting $37.78. 509,359 shares of the stock were exchanged, compared to its average volume of 550,840. Avient Co. has a 1 year low of $27.86 and a 1 year high of $54.68. The firm has a market cap of $3.46 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42. The company has a 50 day moving average price of $35.23 and a two-hundred day moving average price of $41.52.

Avient (NYSE:AVNT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.01. Avient had a net margin of 5.23% and a return on equity of 10.44%. The firm had revenue of $826.60 million for the quarter, compared to the consensus estimate of $834.90 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm's quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts predict that Avient Co. will post 2.85 earnings per share for the current fiscal year.

Avient Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, June 20th. Avient's dividend payout ratio is currently 100.93%.

Avient Profile

Avient Corporation operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in two segments, Color, Additives and Inks; and Specialty Engineered Materials. The Color, Additives and Inks segment offers custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, and specialty inks; custom-formulated liquid system, such as polyester, vinyl, natural rubber and latex, polyurethane, and silicone; and proprietary inks.