Teacher Retirement System of Texas Buys 15,188 Shares of Avient Corporation (NYSE:AVNT)

Teacher Retirement System of Texas increased its position in Avient Corporation (NYSE:AVNT - Free Report) by 40.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,808 shares of the company's stock after acquiring an additional 15,188 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Avient worth $1,962,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in Avient by 56.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock worth $28,000 after purchasing an additional 250 shares during the last quarter. UMB Bank n.a. grew its position in Avient by 85.8% in the 1st quarter. UMB Bank n.a. now owns 1,126 shares of the company's stock worth $42,000 after purchasing an additional 520 shares during the last quarter. GAMMA Investing LLC grew its position in Avient by 57.5% in the 1st 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. Curat Global LLC acquired a new stake in Avient in the 1st quarter worth $56,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Avient during the 4th quarter valued at about $90,000. Institutional investors own 95.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price 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 decreased their target price 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. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.80.

Avient Price Performance

NYSE:AVNT traded down $0.63 on Monday, reaching $33.59. The stock had a trading volume of 721,495 shares, compared to its average volume of 587,030. The company has a market capitalization of $3.07 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.33. Avient Corporation has a 1-year low of $27.86 and a 1-year high of $54.68. The company has a quick ratio of 1.51, a current ratio of 2.05 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average price of $35.53 and a 200-day moving average price of $37.66.

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, beating analysts' consensus estimates 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 net margin of 3.09% and a return on equity of 10.48%. The company's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. Research analysts forecast that Avient Corporation will post 2.85 EPS for the current year.

Avient Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Friday, September 12th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 3.22%. Avient's dividend payout ratio (DPR) is presently 100.93%.

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.