Alliancebernstein L.P. Has $115.87 Million Position in Avient Corporation $AVNT

Key Points

• Alliancebernstein L.P. increased its investment in Avient Corporation by 9.1%, now holding approximately 3.41% of the company, valued at $115.87 million.
• Avient reported earnings per share (EPS) of $0.80, beating estimates, and achieved revenue of $866.50 million for the recent quarter.
• The company has recently announced a quarterly dividend of $0.27, with an annualized dividend yield of 2.9%.

Alliancebernstein L.P. grew its position in Avient Corporation (NYSE:AVNT - Free Report) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,118,170 shares of the company's stock after acquiring an additional 260,670 shares during the period. Alliancebernstein L.P. owned 3.41% of Avient worth $115,871,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Avient by 75.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the company's stock valued at $27,000 after buying an additional 318 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Avient by 85.8% in the first quarter. UMB Bank n.a. now owns 1,126 shares of the company's stock valued at $42,000 after buying an additional 520 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Avient by 57.5% in the first quarter. GAMMA Investing LLC now owns 1,422 shares of the company's stock valued at $53,000 after buying an additional 519 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Avient by 2,450.0% in the first quarter. Allworth Financial LP now owns 1,479 shares of the company's stock valued at $55,000 after buying an additional 1,421 shares during the last quarter. Finally, Curat Global LLC bought a new position in shares of Avient in the first quarter valued at about $56,000. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut their price target on Avient from $43.00 to $37.00 and set a "neutral" rating for the company in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Avient currently has a consensus rating of "Moderate Buy" and an average target price of $45.60.

Avient Trading Down 1.6%

AVNT stock traded down $0.59 during midday trading on Wednesday, reaching $36.39. The stock had a trading volume of 164,123 shares, compared to its average volume of 668,687. The business has a fifty day simple moving average of $34.82 and a two-hundred day simple moving average of $35.67. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.85. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.31 and a beta of 1.40. Avient Corporation has a twelve month low of $27.86 and a twelve month high of $54.68.

Avient (NYSE:AVNT - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. The firm had revenue of $866.50 million during the quarter, compared to analyst estimates of $852.98 million. Avient had a return on equity of 10.57% and a net margin of 3.65%.The company's revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. Avient has set its Q3 2025 guidance at 0.700-0.700 EPS. FY 2025 guidance at 2.770-2.870 EPS. As a group, research analysts expect that Avient Corporation will post 2.85 EPS for the current fiscal year.

Avient Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Friday, September 12th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 12th. Avient's payout ratio is presently 84.38%.

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.