Avient Co. (NYSE:AVNT) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its position in shares of Avient Co. (NYSE:AVNT - Free Report) by 200.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,321,791 shares of the company's stock after acquiring an additional 882,234 shares during the period. Ameriprise Financial Inc. owned approximately 1.45% of Avient worth $54,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Avient during the 4th quarter worth approximately $90,000. Venturi Wealth Management LLC purchased a new stake in shares of Avient during the 4th quarter worth approximately $96,000. KBC Group NV raised its holdings in shares of Avient by 47.2% during the 4th quarter. KBC Group NV now owns 4,090 shares of the company's stock worth $167,000 after acquiring an additional 1,312 shares in the last quarter. Finally, Trust Point Inc. raised its holdings in shares of Avient by 23.6% during the 4th quarter. Trust Point Inc. now owns 5,164 shares of the company's stock worth $211,000 after acquiring an additional 985 shares in the last quarter. 95.48% of the stock is owned by hedge funds and other institutional investors.

Avient Stock Down 0.6%

Avient stock traded down $0.23 during trading hours on Friday, reaching $37.76. The stock had a trading volume of 122,194 shares, compared to its average volume of 548,829. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 20.63, a PEG 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 business's 50 day moving average price is $35.28 and its 200-day moving average price is $41.60. Avient Co. has a 52 week low of $27.86 and a 52 week high of $54.68.

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

Avient Announces Dividend

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 given a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.08 annualized dividend and a yield of 2.86%. Avient's dividend payout ratio is presently 100.93%.

Analyst Ratings Changes

Several research firms recently weighed in on AVNT. Baird R W upgraded Avient to a "hold" rating in a report on Friday, March 14th. Robert W. Baird began coverage on Avient in a report on Friday, March 14th. They set a "neutral" rating and a $43.00 price target on the stock. Wells Fargo & Company increased their price target on Avient from $39.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Seaport Res Ptn upgraded Avient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Finally, Morgan Stanley decreased their price target on Avient from $51.00 to $41.00 and set an "equal weight" rating on the stock in a report on Monday. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.

Avient Company 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.