Intech Investment Management LLC Acquires 19,223 Shares of Avient Corporation $AVNT

Key Points

• Intech Investment Management LLC increased its stake in Avient Corporation by 24.6% in the first quarter, acquiring an additional 19,223 shares, bringing its total to 97,359 shares valued at approximately $3.6 million.
• Avient reported earnings of $0.80 per share, exceeding analysts' expectations, and its revenue for the quarter was $866.5 million, up 1.9% from the previous year.
• The company recently announced a quarterly dividend of $0.27 per share, with a dividend yield of 3.0% and a payout ratio of 84.38%.

Intech Investment Management LLC raised its holdings in Avient Corporation (NYSE:AVNT - Free Report) by 24.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,359 shares of the company's stock after buying an additional 19,223 shares during the quarter. Intech Investment Management LLC owned 0.11% of Avient worth $3,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVNT. Bank of New York Mellon Corp lifted its position in Avient by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 969,159 shares of the company's stock valued at $36,014,000 after purchasing an additional 15,737 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Avient during the 1st quarter worth approximately $230,000. Blue Trust Inc. raised its holdings in Avient by 20.1% during the 1st quarter. Blue Trust Inc. now owns 2,645 shares of the company's stock worth $98,000 after buying an additional 443 shares during the period. Nuveen LLC acquired a new position in Avient during the first quarter worth $50,471,000. Finally, GAMMA Investing LLC boosted its holdings in Avient by 57.5% during the first quarter. GAMMA Investing LLC now owns 1,422 shares of the company's stock worth $53,000 after purchasing an additional 519 shares during the last quarter. Institutional investors own 95.48% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVNT. KeyCorp assumed coverage on shares of Avient in a report on Wednesday. They set an "overweight" rating and a $48.00 target price for the company. Robert W. Baird decreased their target price on shares of Avient from $43.00 to $37.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $46.00.

Avient Stock Performance

AVNT stock traded up $0.45 during midday trading on Thursday, reaching $36.34. 603,133 shares of the company were exchanged, compared to its average volume of 477,535. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.50. The business has a 50-day moving average price of $35.10 and a two-hundred day moving average price of $35.42. Avient Corporation has a one year low of $27.86 and a one year high of $54.68. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 1.25 and a beta of 1.40.

Avient (NYSE:AVNT - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. Avient had a return on equity of 10.57% and a net margin of 3.65%.The company had revenue of $866.50 million during the quarter, compared to the consensus estimate of $852.98 million. During the same quarter last year, the firm earned $0.76 earnings per share. The company's revenue was up 1.9% on a year-over-year basis. Avient has set its Q3 2025 guidance at 0.700-0.700 EPS. FY 2025 guidance at 2.770-2.870 EPS. Equities research analysts forecast that Avient Corporation will post 2.85 EPS for the current year.

Avient Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 3.0%. Avient's payout ratio is presently 84.38%.

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.