Ameriprise Financial Inc. Purchases 13,975 Shares of Avient Corporation $AVNT

Key Points

• Ameriprise Financial Inc. increased its stake in Avient Corporation by 1.1%, holding a total of 1,335,766 shares worth approximately $49.6 million at the end of the quarter.
• Avient recently declared a quarterly dividend of $0.27 per share, with a yield of 2.9%, payable on October 8th, 2023.
• The company's stock has a market cap of $3.44 billion and has shown a range between a one-year low of $27.86 and a high of $54.68.

Ameriprise Financial Inc. increased its position in Avient Corporation (NYSE:AVNT - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,335,766 shares of the company's stock after purchasing an additional 13,975 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.46% of Avient worth $49,641,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. raised its stake in shares of Avient by 85.8% in the 1st 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 in the last quarter. GAMMA Investing LLC increased its stake in 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 acquiring an additional 519 shares during the period. Allworth Financial LP raised its position in Avient by 2,450.0% in the first quarter. Allworth Financial LP now owns 1,479 shares of the company's stock worth $55,000 after purchasing an additional 1,421 shares in the last quarter. Curat Global LLC bought a new position in Avient during the first quarter worth about $56,000. Finally, CWM LLC boosted its holdings in Avient by 45.2% during the first quarter. CWM LLC now owns 2,569 shares of the company's stock valued at $95,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company's stock.

Avient Stock Up 1.2%

NYSE AVNT opened at $37.59 on Thursday. The stock's 50 day simple moving average is $34.11 and its 200 day simple moving average is $36.08. Avient Corporation has a one year low of $27.86 and a one year high of $54.68. The firm has a market cap of $3.44 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.28 and a beta of 1.38. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.50.

Avient (NYSE:AVNT - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $866.50 million during the quarter, compared to the consensus estimate of $852.98 million. Avient had a return on equity of 10.57% and a net margin of 3.65%.The business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. 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, sell-side analysts forecast that Avient Corporation will post 2.85 earnings per share for the current fiscal year.

Avient Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Friday, September 12th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 2.9%. Avient's dividend payout ratio is 84.38%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their target price on Avient from $51.00 to $41.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. Robert W. Baird lowered their price target on Avient from $43.00 to $37.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Finally, Wells Fargo & Company lifted their price objective on Avient from $39.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. One equities 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $45.60.

About Avient

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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