Avient Corporation (NYSE:AVNT - Get Free Report) announced a quarterly dividend on Thursday, July 10th, RTT News reports. Stockholders of record on Friday, September 12th will be given a dividend of 0.27 per share on Wednesday, October 8th. This represents a $1.08 annualized dividend and a dividend yield of 3.16%.
Avient has a payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Avient to earn $3.28 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 32.9%.
Avient Stock Down 2.1%
Avient stock traded down $0.72 during mid-day trading on Friday, reaching $34.21. 519,021 shares of the company were exchanged, compared to its average volume of 584,747. The business has a fifty day moving average of $35.53 and a 200 day moving average of $37.76. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.51 and a current ratio of 2.05. The firm has a market cap of $3.13 billion, a P/E ratio of 31.95, a PEG ratio of 1.08 and a beta of 1.33. Avient has a 12-month low of $27.86 and a 12-month high of $54.68.
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 3.09% and a return on equity of 10.48%. The business had revenue of $826.60 million for the quarter, compared to analyst estimates of $834.90 million. During the same period in the previous year, the company earned $0.76 earnings per share. The business's revenue for the quarter was down .3% on a year-over-year basis. Research analysts anticipate that Avient will post 2.85 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Robert W. Baird assumed coverage on shares of Avient in a report on Friday, March 14th. They issued a "neutral" rating and a $43.00 price target on the stock. Baird R W upgraded shares of Avient to a "hold" rating in a research note on Friday, March 14th. Wells Fargo & Company lifted their price objective on shares of Avient from $39.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley lowered their price objective on shares of Avient from $51.00 to $41.00 and set an "equal weight" rating for the company 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.80.
Read Our Latest Report on AVNT
Institutional Trading of Avient
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of Avient by 1.0% in the 1st quarter. Royal Bank of Canada now owns 128,730 shares of the company's stock valued at $4,782,000 after buying an additional 1,321 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Avient by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,760 shares of the company's stock worth $1,998,000 after buying an additional 2,341 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Avient by 294.8% during the 1st quarter. NewEdge Advisors LLC now owns 9,340 shares of the company's stock worth $347,000 after buying an additional 6,974 shares in the last quarter. United Services Automobile Association acquired a new stake in Avient during the 1st quarter worth approximately $224,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Avient by 3.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,976 shares of the company's stock worth $11,073,000 after buying an additional 10,535 shares in the last quarter. Hedge funds and other institutional investors own 95.48% of the company's stock.
About Avient
(
Get Free Report)
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.
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