Bank of America Corp DE Makes New Investment in Avient Corporation $AVNT

Bank of America Corp DE bought a new stake in shares of Avient Corporation (NYSE:AVNT - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,013,705 shares of the company's stock, valued at approximately $37,467,000. Bank of America Corp DE owned approximately 1.11% of Avient as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. TD Private Client Wealth LLC increased its holdings in shares of Avient by 342.3% during the fourth quarter. TD Private Client Wealth LLC now owns 942 shares of the company's stock worth $29,000 after buying an additional 729 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Avient by 51.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the company's stock worth $45,000 after acquiring an additional 424 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Avient in the 2nd quarter worth approximately $66,000. 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 acquiring an additional 350 shares during the last quarter. Finally, State of Wyoming bought a new stake in Avient during the 2nd quarter worth approximately $116,000. Institutional investors own 95.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVNT. Wells Fargo & Company upped their target price on shares of Avient from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Weiss Ratings upgraded Avient from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday. Seaport Research Partners reiterated a "buy" rating and issued a $54.00 price objective on shares of Avient in a research report on Friday, August 7th. UBS Group set a $44.00 target price on shares of Avient in a research report on Monday, June 8th. Finally, Wall Street Zen raised shares of Avient from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 5th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Avient currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.71.

Avient Stock Performance

Shares of Avient stock opened at $40.47 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.90 and a quick ratio of 1.35. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29. The stock's 50-day moving average is $41.22 and its 200-day moving average is $37.87. Avient Corporation has a one year low of $27.48 and a one year high of $46.64.

Avient (NYSE:AVNT - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.96 earnings per share for the quarter, topping 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 firm had revenue of $917.00 million during the quarter, compared to the consensus estimate of $898.53 million. During the same quarter in the prior year, the firm posted $0.80 EPS. The business's revenue 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. Equities analysts predict that Avient Corporation will post 3.2 earnings per share for the current fiscal year.

Avient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.7%. Avient's dividend payout ratio (DPR) is currently 59.46%.

Avient Profile

Avient Corporation NYSE: AVNT is a global materials company that develops and manufactures specialized polymer products and solutions. Its offerings include engineered materials, polymer colorants and additives, composites, films, and other products designed to improve the performance, appearance, durability, and sustainability of manufactured goods.

The company serves customers across industries including transportation, healthcare, packaging, consumer goods, electronics, energy, and building and infrastructure.

Want to see what other hedge funds are holding AVNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avient Corporation (NYSE:AVNT - Free Report).

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.