Great Lakes Advisors LLC Acquires Shares of 129,365 Avient Corporation $AVNT

Key Points

• Great Lakes Advisors acquired 129,365 Avient shares worth approximately $4.8 million in the second quarter, giving it a 0.14% stake. Institutional investors and hedge funds collectively own 95.48% of Avient.
• Avient exceeded quarterly expectations, reporting $0.96 in EPS and $917 million in revenue, up 5.8% year over year. Analysts assign the stock a “Moderate Buy” consensus rating with an average price target of $46.71.
• Avient declared a quarterly dividend of $0.275 per share, equivalent to $1.10 annually and a 2.5% yield, payable October 7 to shareholders of record as of September 11.

Great Lakes Advisors LLC acquired a new stake in Avient Corporation (NYSE:AVNT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 129,365 shares of the company's stock, valued at approximately $4,781,000. Great Lakes Advisors LLC owned 0.14% of Avient at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC raised its holdings in Avient by 342.3% in the 4th quarter. TD Private Client Wealth LLC now owns 942 shares of the company's stock valued at $29,000 after acquiring an additional 729 shares during the period. Danske Bank A S acquired a new stake in Avient during the third quarter worth approximately $40,000. Quarry LP boosted its holdings in shares of Avient by 83.1% during the third quarter. Quarry LP now owns 1,234 shares of the company's stock worth $41,000 after acquiring an additional 560 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Avient by 51.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the company's stock worth $45,000 after acquiring an additional 424 shares during the period. Finally, Torren Management LLC acquired a new position in shares of Avient in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 95.48% of the company's stock.

Wall Street Analyst Weigh In

AVNT has been the topic of a number of recent research reports. Truist Financial increased their target price on Avient from $44.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Robert W. Baird set a $43.00 price objective on Avient in a report on Friday, May 8th. Seaport Research Partners reiterated a "buy" rating and set 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 Avient in a report on Monday, June 8th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Avient in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $46.71.

Avient Price Performance

Avient stock opened at $44.30 on Thursday. The firm has a market cap of $4.06 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.26 and a beta of 1.27. 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 stock's fifty day moving average price is $38.57 and its two-hundred day moving average price is $37.52. 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 earnings results on Thursday, August 6th. The company reported $0.96 earnings per share 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 firm had revenue of $917.00 million during the quarter, compared to the consensus estimate of $898.53 million. During the same period in the prior year, the company posted $0.80 EPS. The company's revenue was up 5.8% compared to the same quarter last year. 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, research analysts expect that Avient Corporation will post 3.2 EPS for the current fiscal year.

Avient Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, September 11th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.10 annualized dividend and a yield of 2.5%. Avient's dividend 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.

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.

Continue following MarketBeat

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

Add As Preferred Source