Mesirow Institutional Investment Management Inc. Invests $653,000 in Avient Co. (NYSE:AVNT)

Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Avient Co. (NYSE:AVNT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,987 shares of the company's stock, valued at approximately $653,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in Avient by 56.2% in the fourth 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 stake in shares of Avient during the 4th quarter valued at $90,000. Venturi Wealth Management LLC purchased a new stake in Avient in the fourth quarter worth about $96,000. KBC Group NV increased its position in Avient by 47.2% during the 4th quarter. KBC Group NV now owns 4,090 shares of the company's stock valued at $167,000 after buying an additional 1,312 shares in the last quarter. Finally, Trust Point Inc. grew its position in Avient by 23.6% during the 4th quarter. Trust Point Inc. now owns 5,164 shares of the company's stock valued at $211,000 after purchasing an additional 985 shares during the last quarter. Hedge funds and other institutional investors own 95.48% of the company's stock.

Avient Stock Down 1.0 %

Shares of AVNT traded down $0.35 during midday trading on Friday, reaching $33.33. The stock had a trading volume of 361,884 shares, compared to its average volume of 539,057. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42. Avient Co. has a 1-year low of $27.86 and a 1-year high of $54.68. The company's fifty day simple moving average is $37.14 and its two-hundred day simple moving average is $42.88. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.25 and a beta of 1.41.

Avient (NYSE:AVNT - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. Equities research analysts expect that Avient Co. will post 2.85 earnings per share for the current year.

Avient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Tuesday, March 18th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.24%. The ex-dividend date was Tuesday, March 18th. Avient's dividend payout ratio is currently 59.02%.

Analyst Ratings Changes

Several equities research analysts have recently commented on AVNT shares. Wells Fargo & Company reduced their price target on shares of Avient from $55.00 to $39.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Robert W. Baird initiated coverage on shares of Avient in a report on Friday, March 14th. They issued a "neutral" rating and a $43.00 target price for the company. Seaport Res Ptn upgraded Avient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Finally, Baird R W raised Avient to a "hold" rating in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Avient presently has an average rating of "Moderate Buy" and a consensus target price of $48.60.

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.