48,800 Shares in Avient Co. (NYSE:AVNT) Acquired by Appian Way Asset Management LP

Appian Way Asset Management LP acquired a new position in shares of Avient Co. (NYSE:AVNT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 48,800 shares of the company's stock, valued at approximately $1,994,000. Avient makes up 0.4% of Appian Way Asset Management LP's portfolio, making the stock its 22nd biggest position. Appian Way Asset Management LP owned about 0.05% of Avient as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of Avient by 56.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock valued at $28,000 after buying an additional 250 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Avient in the fourth quarter valued at approximately $90,000. Venturi Wealth Management LLC acquired a new position in Avient in the 4th quarter worth approximately $96,000. KBC Group NV lifted its stake in Avient by 47.2% during the 4th quarter. KBC Group NV now owns 4,090 shares of the company's stock valued at $167,000 after acquiring an additional 1,312 shares during the period. Finally, Trust Point Inc. lifted its stake in Avient by 23.6% during the 4th quarter. Trust Point Inc. now owns 5,164 shares of the company's stock valued at $211,000 after acquiring an additional 985 shares during the period. Hedge funds and other institutional investors own 95.48% of the company's stock.

Avient Price Performance

Shares of Avient stock traded up $2.07 on Tuesday, reaching $36.07. The company's stock had a trading volume of 452,982 shares, compared to its average volume of 542,285. Avient Co. has a 52-week low of $27.86 and a 52-week high of $54.68. The company has a market capitalization of $3.30 billion, a P/E ratio of 19.75, a PEG ratio of 1.25 and a beta of 1.38. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average price of $35.96 and a 200-day moving average price of $42.11.

Avient (NYSE:AVNT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. Avient had a net margin of 5.23% and a return on equity of 10.44%. The company's revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 EPS. Analysts expect that Avient Co. will post 2.85 EPS for the current year.

Avient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.27 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.08 annualized dividend and a yield of 2.99%. Avient's dividend payout ratio (DPR) is presently 59.02%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVNT shares. Robert W. Baird assumed coverage on shares of Avient in a research report on Friday, March 14th. They set a "neutral" rating and a $43.00 target price for the company. Wells Fargo & Company decreased their price objective on Avient from $55.00 to $39.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Seaport Res Ptn raised Avient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upped their price objective on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, Baird R W raised shares of Avient to a "hold" rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.