Avient Co. (NYSE:AVNT) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Avient Co. (NYSE:AVNT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $48.60.

A number of equities analysts have recently commented on the company. Robert W. Baird assumed coverage on Avient in a research report on Friday, March 14th. They set a "neutral" rating and a $43.00 price objective for the company. Baird R W raised shares of Avient to a "hold" rating in a research report 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 research report on Friday, February 14th. Wells Fargo & Company reduced their price objective on Avient from $55.00 to $39.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Avient by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 10,313,859 shares of the company's stock valued at $421,424,000 after buying an additional 79,661 shares during the period. State Street Corp lifted its position in shares of Avient by 3.0% during the third quarter. State Street Corp now owns 4,231,720 shares of the company's stock worth $213,977,000 after purchasing an additional 121,349 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Avient by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,069,093 shares of the company's stock valued at $166,259,000 after purchasing an additional 90,535 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Avient by 9.5% in the 4th quarter. Franklin Resources Inc. now owns 3,185,999 shares of the company's stock worth $130,180,000 after buying an additional 276,357 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Avient by 2.0% during the third quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company's stock worth $109,431,000 after acquiring an additional 43,249 shares during the last quarter. Hedge funds and other institutional investors own 95.48% of the company's stock.

Avient Price Performance

Shares of NYSE:AVNT traded down $0.52 during trading on Friday, reaching $31.11. The stock had a trading volume of 27,890 shares, compared to its average volume of 678,259. The business has a fifty day moving average price of $38.84 and a 200-day moving average price of $43.79. The stock has a market cap of $2.85 billion, a PE ratio of 17.04, a PEG ratio of 1.25 and a beta of 1.41. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.42 and a current ratio of 1.88. Avient has a 1-year low of $27.86 and a 1-year high of $54.68.

Avient (NYSE:AVNT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.49 EPS for the quarter, hitting 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 forecast that Avient will post 2.85 earnings per share for the current fiscal year.

Avient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.47%. Avient's payout ratio is 59.02%.

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.