Assenagon Asset Management S.A. Takes Position in Avient Corporation $AVNT

Key Points

• Assenagon Asset Management acquired 254,716 Avient shares worth approximately $9.4 million, representing about 0.28% of the company. Institutional investors collectively own 95.48% of Avient.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $46.71; recent targets range from $43 to $50.
• Avient exceeded quarterly expectations with adjusted EPS of $0.96 versus $0.89 forecast and revenue of $917 million, up 5.8% year over year. The company also declared a quarterly dividend of $0.275, yielding approximately 2.4% annually.

Assenagon Asset Management S.A. acquired a new position in Avient Corporation (NYSE:AVNT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 254,716 shares of the company's stock, valued at approximately $9,414,000. Assenagon Asset Management S.A. owned approximately 0.28% of Avient at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVNT. Public Employees Retirement System of Ohio raised its stake in Avient by 12.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,222 shares of the company's stock valued at $69,000 after buying an additional 251 shares during the last quarter. Cetera Investment Advisers boosted its stake in Avient by 3.0% in the 1st quarter. Cetera Investment Advisers now owns 11,748 shares of the company's stock worth $426,000 after purchasing an additional 346 shares in the last quarter. Arcadia Investment Management Corp MI grew its position in Avient by 17.5% during the 4th quarter. Arcadia Investment Management Corp MI now owns 2,345 shares of the company's stock worth $73,000 after purchasing an additional 350 shares during the last quarter. State of Michigan Retirement System grew its position in Avient by 1.8% during the 1st quarter. State of Michigan Retirement System now owns 22,024 shares of the company's stock worth $799,000 after purchasing an additional 400 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Avient by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the company's stock worth $45,000 after purchasing an additional 424 shares during the last quarter. 95.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AVNT shares. UBS Group set a $44.00 price target on shares of Avient in a report on Monday, June 8th. Truist Financial boosted their price objective on shares of Avient from $44.00 to $50.00 and gave the company a "buy" rating in a report on Friday, August 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Avient in a research report on Wednesday, May 13th. Wells Fargo & Company raised their target price on Avient from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Robert W. Baird set a $43.00 price target on Avient in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.71.

Avient Stock Down 0.4%

Avient stock opened at $45.46 on Wednesday. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.38 and a beta of 1.27. Avient Corporation has a 52 week low of $27.48 and a 52 week high of $46.64. The business's 50-day moving average price is $37.31 and its 200 day moving average price is $37.17. The company has a quick ratio of 1.35, a current ratio of 1.90 and a debt-to-equity ratio of 0.77.

Avient (NYSE:AVNT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.07. Avient had a return on equity of 11.64% and a net margin of 5.10%.The company had revenue of $917.00 million during the quarter, compared to the consensus estimate of $898.53 million. During the same period in the previous year, the company posted $0.80 earnings per share. Avient's revenue for the quarter was up 5.8% on a year-over-year basis. Avient has set its FY 2026 guidance at 3.100-3.250 EPS and its Q3 2026 guidance at 0.800-0.800 EPS. As a group, sell-side analysts anticipate that Avient Corporation will post 3.2 earnings per share for the current year.

Avient Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, September 11th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, September 11th. Avient's payout ratio is currently 59.46%.

About Avient

Avient Corporation NYSE: AVNT is a global provider of specialized and sustainable polymer materials, delivering color, additive and engineered solutions to a wide range of industries. The company's core offerings include masterbatches, colorant systems, compounds and resins designed to enhance performance, aesthetics and environmental sustainability. Avient serves markets such as packaging, automotive, consumer goods, healthcare, electronics, and agriculture, tailoring products to meet stringent regulatory and end-use requirements.

Formed through a corporate rebranding in 2020 following the divestiture of PolyOne's specialty businesses, Avient traces its heritage to a legacy of polymer innovation spanning decades.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source