Avient Co. (NYSE:AVNT) Shares Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC raised its stake in shares of Avient Co. (NYSE:AVNT - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,312,215 shares of the company's stock after purchasing an additional 131,580 shares during the period. Silvercrest Asset Management Group LLC owned 1.44% of Avient worth $53,617,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Choreo LLC raised its position in shares of Avient by 4.3% during the 4th quarter. Choreo LLC now owns 5,812 shares of the company's stock worth $237,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock worth $28,000 after buying an additional 250 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Avient by 4.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company's stock valued at $270,000 after acquiring an additional 256 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Avient by 4.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company's stock valued at $227,000 after acquiring an additional 258 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC boosted its stake in shares of Avient by 8.4% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 7,612 shares of the company's stock worth $311,000 after acquiring an additional 591 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on AVNT shares. Deutsche Bank Aktiengesellschaft increased their price objective on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Wells Fargo & Company increased their target price on shares of Avient from $39.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Morgan Stanley lowered their price target on shares of Avient from $51.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, Baird R W upgraded shares of Avient to a "hold" rating in a report on Friday, March 14th. Three 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 company. Based on data from MarketBeat.com, Avient has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.

Avient Trading Down 2.8%

AVNT stock traded down $1.04 during trading on Wednesday, reaching $36.29. 113,229 shares of the stock were exchanged, compared to its average volume of 548,365. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 1.25 and a beta of 1.38. The business has a 50 day moving average price of $35.13 and a 200-day moving average price of $41.34. Avient Co. has a 1 year low of $27.86 and a 1 year high of $54.68.

Avient (NYSE:AVNT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.01. Avient had a net margin of 5.23% and a return on equity of 10.44%. The business had revenue of $826.60 million during the quarter, compared to the consensus estimate of $834.90 million. During the same quarter last year, the firm earned $0.76 EPS. The business's revenue was down .3% compared to the same quarter last year. On average, research analysts predict that Avient Co. will post 2.85 earnings per share for the current year.

Avient Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Friday, June 20th. Avient's dividend payout ratio (DPR) is presently 100.93%.

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.