BNP Paribas Financial Markets Acquires Shares of 21,338 Avient Co. (NYSE:AVNT)

BNP Paribas Financial Markets purchased a new position in Avient Co. (NYSE:AVNT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 21,338 shares of the company's stock, valued at approximately $872,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Avient by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 10,313,859 shares of the company's stock valued at $421,424,000 after purchasing an additional 79,661 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Avient by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,069,093 shares of the company's stock worth $166,259,000 after buying an additional 90,535 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Avient by 9.5% during the fourth quarter. Franklin Resources Inc. now owns 3,185,999 shares of the company's stock valued at $130,180,000 after buying an additional 276,357 shares during the last quarter. Jennison Associates LLC increased its position in shares of Avient by 7.6% during the fourth quarter. Jennison Associates LLC now owns 1,825,283 shares of the company's stock valued at $74,581,000 after acquiring an additional 128,718 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Avient by 120.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,460,481 shares of the company's stock worth $59,675,000 after acquiring an additional 797,112 shares during the last quarter. Hedge funds and other institutional investors own 95.48% of the company's stock.

Avient Price Performance

Avient stock traded up $1.39 during midday trading on Tuesday, reaching $37.27. 423,925 shares of the stock traded hands, compared to its average volume of 552,082. The stock has a market cap of $3.41 billion, a P/E ratio of 20.37, a PEG ratio of 1.25 and a beta of 1.38. The stock's fifty day moving average is $34.72 and its 200-day moving average is $40.88. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. Avient Co. has a 12 month low of $27.86 and a 12 month high of $54.68.

Avient (NYSE:AVNT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.01. Avient had a return on equity of 10.44% and a net margin of 5.23%. The firm had revenue of $826.60 million during the quarter, compared to the consensus estimate of $834.90 million. During the same period in the prior year, the company earned $0.76 EPS. The company's quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Avient Co. will post 2.85 EPS for the current year.

Avient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.90%. Avient's payout ratio is currently 100.93%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVNT. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Wells Fargo & Company lifted their price target on shares of Avient from $39.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Morgan Stanley dropped their price objective on Avient from $51.00 to $41.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Robert W. Baird started coverage on Avient in a research note on Friday, March 14th. They set a "neutral" rating and a $43.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Avient presently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

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.