Avient Co. Plans Quarterly Dividend of $0.26 (NYSE:AVNT)

Avient Co. (NYSE:AVNT - Get Free Report) declared a quarterly dividend on Thursday, May 16th, Zacks reports. Investors of record on Friday, June 21st will be given a dividend of 0.257 per share on Wednesday, July 10th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, June 21st.

Avient has increased its dividend by an average of 6.8% per year over the last three years and has increased its dividend annually for the last 12 consecutive years.

Avient Trading Up 0.9 %

NYSE AVNT traded up $0.40 on Friday, hitting $46.06. 436,359 shares of the company were exchanged, compared to its average volume of 498,637. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.90 and a quick ratio of 1.42. Avient has a twelve month low of $27.73 and a twelve month high of $47.87. The firm has a market capitalization of $4.20 billion, a P/E ratio of 40.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.53. The company's 50 day moving average price is $42.97 and its 200-day moving average price is $39.26.

Avient (NYSE:AVNT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.69 by $0.07. Avient had a net margin of 3.37% and a return on equity of 9.79%. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $818.45 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. Analysts predict that Avient will post 2.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AVNT shares. Wells Fargo & Company upped their price target on Avient from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Wednesday, May 8th. Stifel Nicolaus upped their target price on Avient from $49.00 to $53.00 and gave the company a "buy" rating in a report on Wednesday, May 8th. Finally, Oppenheimer raised their price target on shares of Avient from $45.00 to $49.00 and gave the stock an "outperform" rating in a report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $46.20.

Avient Company 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.