Appian Way Asset Management LP Acquires Shares of 48,800 Avient Co. (NYSE:AVNT)

Appian Way Asset Management LP purchased a new position in Avient Co. (NYSE:AVNT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 48,800 shares of the company's stock, valued at approximately $1,994,000. Avient accounts for 0.4% of Appian Way Asset Management LP's portfolio, making the stock its 22nd largest holding. Appian Way Asset Management LP owned 0.05% of Avient as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVNT. Barclays PLC raised its stake in shares of Avient by 221.7% during the 3rd quarter. Barclays PLC now owns 173,002 shares of the company's stock worth $8,706,000 after purchasing an additional 119,229 shares in the last quarter. Tidal Investments LLC boosted its stake in Avient by 15.8% during the third quarter. Tidal Investments LLC now owns 16,592 shares of the company's stock worth $835,000 after buying an additional 2,261 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Avient by 1.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,515,362 shares of the company's stock worth $76,253,000 after buying an additional 17,765 shares during the period. JPMorgan Chase & Co. grew its stake in Avient by 22.4% during the third quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company's stock worth $30,626,000 after buying an additional 111,489 shares during the last quarter. Finally, Diversified Trust Co increased its stake in shares of Avient by 21.8% in the fourth quarter. Diversified Trust Co now owns 13,671 shares of the company's stock valued at $559,000 after buying an additional 2,446 shares in the last quarter. Institutional investors own 95.48% of the company's stock.

Avient Trading Up 2.2 %

AVNT traded up $0.74 during trading on Friday, reaching $34.16. The company had a trading volume of 410,092 shares, compared to its average volume of 540,454. The business has a 50 day simple moving average of $36.13 and a 200-day simple moving average of $42.29. The stock has a market cap of $3.13 billion, a P/E ratio of 18.67, a PEG ratio of 1.25 and a beta of 1.41. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. 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 issued its quarterly earnings data on Thursday, February 13th. The company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Avient had a return on equity of 10.44% and a net margin of 5.23%. On average, equities analysts anticipate that Avient Co. will post 2.85 EPS for the current fiscal year.

Avient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Tuesday, March 18th. Avient's dividend payout ratio (DPR) is presently 59.02%.

Analyst Ratings Changes

A number of research firms recently commented on AVNT. Robert W. Baird began coverage on shares of Avient in a research report on Friday, March 14th. They issued a "neutral" rating and a $43.00 price objective for the company. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Baird R W upgraded Avient to a "hold" rating in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft lifted their target price on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, Wells Fargo & Company cut their price objective on shares of Avient from $55.00 to $39.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Avient currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.60.

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.