WCM Investment Management LLC Has $15.33 Million Stake in Avient Corporation $AVNT

Key Points

• WCM Investment Management LLC increased its stake in Avient Corporation, now owning 466,900 shares worth $15.33 million, after acquiring an additional 26,664 shares in Q2.
• Avient has announced a quarterly dividend of $0.275 to be paid on January 7, 2025, with an annualized dividend yield of 3.5%, representing an increase from the previous dividend amount.
• Analysts have mixed views on Avient, with price targets ranging from $37 to $48, and a consensus rating of "Moderate Buy."

WCM Investment Management LLC raised its position in Avient Corporation (NYSE:AVNT - Free Report) by 6.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 466,900 shares of the company's stock after purchasing an additional 26,664 shares during the period. WCM Investment Management LLC owned 0.51% of Avient worth $15,333,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AVNT. Nuveen LLC acquired a new position in shares of Avient during the 1st quarter valued at $50,471,000. Swedbank AB acquired a new position in shares of Avient during the 1st quarter valued at $37,160,000. Wellington Management Group LLP lifted its position in shares of Avient by 100.4% during the 1st quarter. Wellington Management Group LLP now owns 1,125,927 shares of the company's stock valued at $41,839,000 after acquiring an additional 564,099 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Avient by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,348,157 shares of the company's stock valued at $161,576,000 after acquiring an additional 279,064 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Avient by 9.1% during the 1st quarter. Alliancebernstein L.P. now owns 3,118,170 shares of the company's stock valued at $115,871,000 after acquiring an additional 260,670 shares during the period. Institutional investors and hedge funds own 95.48% of the company's stock.

Avient Stock Performance

Shares of AVNT stock opened at $31.16 on Friday. The firm has a market capitalization of $2.85 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.08 and a beta of 1.41. The firm has a fifty day simple moving average of $34.77 and a two-hundred day simple moving average of $34.39. The company has a current ratio of 2.03, a quick ratio of 1.50 and a debt-to-equity ratio of 0.85. Avient Corporation has a 12 month low of $27.86 and a 12 month high of $54.68.

Avient (NYSE:AVNT - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. Avient had a net margin of 3.65% and a return on equity of 10.57%. The firm had revenue of $866.50 million during the quarter, compared to analyst estimates of $852.98 million. During the same quarter in the prior year, the business posted $0.76 EPS. The business's revenue 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. Analysts forecast that Avient Corporation will post 2.85 EPS for the current fiscal year.

Avient Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Stockholders of record on Friday, December 12th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, December 12th. This is a positive change from Avient's previous quarterly dividend of $0.27. Avient's dividend payout ratio (DPR) is currently 84.38%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AVNT shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Avient in a research report on Wednesday, October 8th. Robert W. Baird decreased their price target 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. Finally, KeyCorp started coverage on shares of Avient in a research note on Wednesday, September 17th. They set an "overweight" rating and a $48.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.60.

About Avient

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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