ProShare Advisors LLC raised its stake in Avient Co. (NYSE:AVNT - Free Report) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,935 shares of the company's stock after buying an additional 8,711 shares during the quarter. ProShare Advisors LLC owned 0.20% of Avient worth $7,516,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVNT. Choreo LLC raised its position 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 acquiring an additional 238 shares during the period. Smartleaf Asset Management LLC lifted its stake in Avient by 56.2% in the fourth 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 holdings in Avient by 4.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company's stock worth $270,000 after purchasing an additional 256 shares in the last quarter. Janney Montgomery Scott LLC raised its stake 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 purchasing an additional 258 shares during the period. Finally, Gallagher Fiduciary Advisors LLC lifted its holdings in shares of Avient by 8.4% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 7,612 shares of the company's stock valued at $311,000 after purchasing an additional 591 shares in the last quarter. Institutional investors 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. Deutsche Bank Aktiengesellschaft lifted their target price on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their price objective on shares of Avient from $39.00 to $42.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Baird R W upgraded shares of Avient to a "hold" rating in a research note on Friday, March 14th. 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 research report on Monday, May 12th. Finally, Robert W. Baird started coverage on Avient in a report on Friday, March 14th. They issued a "neutral" rating and a $43.00 price objective for the company. Three 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.
Read Our Latest Report on Avient
Avient Stock Performance
AVNT stock traded down $1.31 during trading hours on Wednesday, reaching $36.02. The stock had a trading volume of 386,882 shares, compared to its average volume of 549,415. The stock has a 50-day simple moving average of $35.13 and a 200 day simple moving average of $41.34. Avient Co. has a fifty-two week low of $27.86 and a fifty-two week high of $54.68. The stock has a market capitalization of $3.30 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42.
Avient (NYSE:AVNT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.01. The business had revenue of $826.60 million during the quarter, compared to the consensus estimate of $834.90 million. Avient had a net margin of 5.23% and a return on equity of 10.44%. Avient's revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. Analysts predict that Avient Co. will post 2.85 EPS for the current fiscal year.
Avient Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, June 20th. Avient's dividend payout ratio is 100.93%.
About Avient
(
Free Report)
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.
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