UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 75,787 Shares of Avient Co. (NYSE:AVNT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Avient Co. (NYSE:AVNT - Free Report) by 35.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,441 shares of the company's stock after purchasing an additional 75,787 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of Avient worth $11,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings 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. Headlands Technologies LLC bought a new position in Avient during the 4th quarter valued at about $90,000. Venturi Wealth Management LLC bought a new position in Avient during the 4th quarter valued at about $96,000. KBC Group NV raised its stake in shares of Avient by 47.2% in the fourth quarter. KBC Group NV now owns 4,090 shares of the company's stock worth $167,000 after acquiring an additional 1,312 shares during the last quarter. Finally, Trust Point Inc. raised its stake in shares of Avient by 23.6% in the fourth quarter. Trust Point Inc. now owns 5,164 shares of the company's stock worth $211,000 after acquiring an additional 985 shares during the last quarter. Institutional investors own 95.48% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AVNT shares. Morgan Stanley dropped their target price on shares of Avient from $51.00 to $41.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Robert W. Baird initiated coverage on shares of Avient in a research report on Friday, March 14th. They set a "neutral" rating and a $43.00 price target for the company. Wells Fargo & Company lifted their price target 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. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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 investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.

Avient Trading Down 1.2%

Avient stock traded down $0.45 during midday trading on Friday, hitting $36.11. 609,102 shares of the stock were exchanged, compared to its average volume of 554,901. The stock has a market capitalization of $3.31 billion, a PE ratio of 19.73, a P/E/G ratio of 1.25 and a beta of 1.38. The company has a fifty day simple moving average of $34.55 and a two-hundred day simple moving average of $40.56. 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 Co. has a 52 week low of $27.86 and a 52 week high of $54.68.

Avient (NYSE:AVNT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. The company had revenue of $826.60 million for the quarter, compared to analyst estimates of $834.90 million. Avient had a net margin of 5.23% and a return on equity of 10.44%. The business's revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. Equities research analysts anticipate that Avient Co. will post 2.85 EPS for the current fiscal year.

Avient Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, June 20th. Avient's dividend payout ratio (DPR) is 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.