Avient Co. (NYSE:AVNT) Shares Sold by EDENTREE ASSET MANAGEMENT Ltd

EDENTREE ASSET MANAGEMENT Ltd decreased its position in shares of Avient Co. (NYSE:AVNT - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,900 shares of the company's stock after selling 10,350 shares during the period. Avient accounts for approximately 2.0% of EDENTREE ASSET MANAGEMENT Ltd's portfolio, making the stock its 24th biggest position. EDENTREE ASSET MANAGEMENT Ltd owned about 0.19% of Avient worth $6,986,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Choreo LLC grew its stake in shares of Avient by 4.3% in the 4th quarter. Choreo LLC now owns 5,812 shares of the company's stock valued at $237,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Avient by 56.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock valued at $28,000 after buying an additional 250 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Avient by 4.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company's stock valued at $270,000 after buying an additional 256 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Avient by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company's stock valued at $227,000 after buying an additional 258 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC increased its position in shares of Avient by 8.4% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 7,612 shares of the company's stock valued at $311,000 after buying an additional 591 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company's stock.

Avient Trading Up 3.5%

Shares of Avient stock traded up $1.25 during trading on Tuesday, reaching $37.13. 90,584 shares of the stock were exchanged, compared to its average volume of 550,771. Avient Co. has a 1 year low of $27.86 and a 1 year high of $54.68. The stock's fifty day moving average is $34.77 and its 200 day moving average is $40.90. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38. 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 (NYSE:AVNT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. Avient had a net margin of 5.23% and a return on equity of 10.44%. The company had revenue of $826.60 million during the quarter, compared to the consensus estimate of $834.90 million. During the same quarter last year, the firm earned $0.76 earnings per share. The firm's quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research analysts expect that Avient Co. will post 2.85 earnings per share for the current fiscal year.

Avient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders 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 2.91%. Avient's payout ratio is currently 100.93%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Avient from $39.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Morgan Stanley lowered 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. Baird R W upgraded Avient to a "hold" rating in a report on Friday, March 14th. Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.

Avient 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.