Voya Investment Management LLC Has $2.37 Million Stock Holdings in Avient Corporation $AVNT

Key Points

• Voya Investment Management LLC significantly increased its stake in Avient Corporation by 137.7%, acquiring a total of 63,884 shares valued at about $2.37 million.
• The stock currently holds a market capitalization of $3.22 billion, with analysts giving it an average rating of "Moderate Buy" and a target price of $46.00.
• Avient recently announced a quarterly dividend of $0.27 per share, representing an annualized yield of 3.1%, to be paid on October 8th to shareholders of record on September 12th.

Voya Investment Management LLC raised its stake in Avient Corporation (NYSE:AVNT - Free Report) by 137.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,884 shares of the company's stock after purchasing an additional 37,004 shares during the quarter. Voya Investment Management LLC owned about 0.07% of Avient worth $2,374,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Avient by 75.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the company's stock worth $27,000 after buying an additional 318 shares during the period. Diversified Trust Co boosted its holdings in Avient by 2.5% in the first quarter. Diversified Trust Co now owns 14,007 shares of the company's stock worth $520,000 after purchasing an additional 336 shares in the last quarter. Cerity Partners LLC boosted its holdings in Avient by 1.8% during the first quarter. Cerity Partners LLC now owns 23,571 shares of the company's stock valued at $876,000 after acquiring an additional 416 shares during the period. Blue Trust Inc. raised its holdings in Avient by 20.1% in the 1st quarter. Blue Trust Inc. now owns 2,645 shares of the company's stock valued at $98,000 after acquiring an additional 443 shares in the last quarter. Finally, Intrust Bank NA raised its position in Avient by 5.2% in the first quarter. Intrust Bank NA now owns 9,162 shares of the company's stock worth $340,000 after purchasing an additional 456 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company's stock.

Analyst Ratings Changes

AVNT has been the topic of several research analyst reports. Robert W. Baird decreased their price target on shares of Avient from $43.00 to $37.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. KeyCorp started coverage on Avient in a report on Wednesday, September 17th. They issued an "overweight" rating and a $48.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.00.

Avient Price Performance

Shares of NYSE AVNT traded down $0.36 during midday trading on Monday, hitting $34.78. The company had a trading volume of 515,863 shares, compared to its average volume of 515,496. Avient Corporation has a twelve month low of $27.86 and a twelve month high of $54.68. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.22 and a beta of 1.40. The business has a 50-day simple moving average of $35.12 and a two-hundred day simple moving average of $35.28. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.85.

Avient (NYSE:AVNT - Get Free Report) last released its quarterly 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 analysts' expectations of $852.98 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. 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 anticipate that Avient Corporation will post 2.85 earnings per share for the current year.

Avient Dividend Announcement

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 paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 12th. Avient's dividend payout ratio (DPR) 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.