Avient Co. (NYSE:AVNT) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG increased its position in shares of Avient Co. (NYSE:AVNT - Free Report) by 43.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,836 shares of the company's stock after acquiring an additional 26,055 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of Avient worth $3,507,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Avient during the 4th quarter valued at about $50,548,000. Ameriprise Financial Inc. grew its holdings in Avient by 200.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,321,791 shares of the company's stock valued at $54,012,000 after purchasing an additional 882,234 shares during the period. Victory Capital Management Inc. grew its holdings in Avient by 120.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,460,481 shares of the company's stock valued at $59,675,000 after purchasing an additional 797,112 shares during the period. Franklin Resources Inc. increased its position in Avient by 9.5% during the fourth quarter. Franklin Resources Inc. now owns 3,185,999 shares of the company's stock worth $130,180,000 after purchasing an additional 276,357 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Avient during the fourth quarter worth approximately $8,344,000. 95.48% of the stock is owned by hedge funds and other institutional investors.

Avient Stock Down 0.6%

Shares of AVNT traded down $0.20 during midday trading on Monday, reaching $35.94. 408,238 shares of the company were exchanged, compared to its average volume of 552,587. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. Avient Co. has a 1-year low of $27.86 and a 1-year high of $54.68. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.25 and a beta of 1.38. The stock has a 50-day moving average price of $34.77 and a 200-day moving average price of $40.90.

Avient (NYSE:AVNT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.75 by $0.01. The firm had revenue of $826.60 million for the quarter, compared to analyst estimates of $834.90 million. Avient had a return on equity of 10.44% and a net margin of 5.23%. Avient's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. Research analysts expect that Avient Co. will post 2.85 earnings per share for the current year.

Avient Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th will be given a $0.27 dividend. The ex-dividend date is Friday, June 20th. This represents a $1.08 dividend on an annualized basis and a yield of 3.01%. Avient's payout ratio is currently 100.93%.

Analyst Ratings Changes

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

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.