Jane Street Group LLC boosted its position in shares of Avient Co. (NYSE:AVNT - Free Report) by 47.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,965 shares of the company's stock after acquiring an additional 35,163 shares during the period. Jane Street Group LLC owned 0.12% of Avient worth $4,493,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Avient during the 4th quarter valued at $50,548,000. Victory Capital Management Inc. boosted its stake in Avient by 120.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,460,481 shares of the company's stock valued at $59,675,000 after buying an additional 797,112 shares during the period. Franklin Resources Inc. grew its position in Avient by 9.5% during the fourth quarter. Franklin Resources Inc. now owns 3,185,999 shares of the company's stock worth $130,180,000 after buying an additional 276,357 shares in the last quarter. Raymond James Financial Inc. bought a new position in Avient in the 4th quarter worth about $8,344,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Avient by 29.8% in the 4th quarter. JPMorgan Chase & Co. now owns 790,097 shares of the company's stock valued at $32,283,000 after acquiring an additional 181,476 shares in the last quarter. Institutional investors own 95.48% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently weighed in on AVNT shares. Robert W. Baird initiated coverage on shares of Avient in a research report on Friday, March 14th. They issued a "neutral" rating and a $43.00 price objective on the stock. Baird R W upgraded shares of Avient to a "hold" rating in a research report on Friday, March 14th. Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised their price target on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company upped their price objective on Avient from $39.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday. Two investment 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $48.25.
Check Out Our Latest Report on AVNT
Avient Price Performance
AVNT stock opened at $36.80 on Friday. The firm has a market cap of $3.37 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.25 and a beta of 1.38. The firm's fifty day moving average is $35.54 and its 200 day moving average is $41.82. Avient Co. has a 52 week low of $27.86 and a 52 week high of $54.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.42 and a current ratio of 1.88.
Avient (NYSE:AVNT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.75 by $0.01. The firm had revenue of $826.60 million for the quarter, compared to the consensus estimate of $834.90 million. Avient had a return on equity of 10.44% and a net margin of 5.23%. The company's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. Research analysts predict that Avient Co. will post 2.85 earnings per share for the current year.
Avient Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Tuesday, March 18th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Tuesday, March 18th. Avient's 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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