Silvercrest Asset Management Group LLC Has $53.62 Million Stock Position in Avient Co. (NYSE:AVNT)

Silvercrest Asset Management Group LLC lifted its position in Avient Co. (NYSE:AVNT - Free Report) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,312,215 shares of the company's stock after acquiring an additional 131,580 shares during the period. Silvercrest Asset Management Group LLC owned approximately 1.44% of Avient worth $53,617,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings 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 during the period. Headlands Technologies LLC acquired a new stake in Avient during the 4th quarter worth approximately $90,000. Venturi Wealth Management LLC acquired a new stake in Avient during the 4th quarter worth approximately $96,000. KBC Group NV grew its stake in shares of Avient by 47.2% during the 4th quarter. KBC Group NV now owns 4,090 shares of the company's stock worth $167,000 after acquiring an additional 1,312 shares in the last quarter. Finally, Trust Point Inc. grew its stake in shares of Avient by 23.6% during the 4th quarter. Trust Point Inc. now owns 5,164 shares of the company's stock worth $211,000 after acquiring an additional 985 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Avient Stock Performance

AVNT stock traded down $0.35 during midday trading on Monday, reaching $37.43. 292,830 shares of the company were exchanged, compared to its average volume of 550,266. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42. The business has a 50-day moving average price of $35.23 and a two-hundred day moving average price of $41.43. Avient Co. has a one year low of $27.86 and a one year high of $54.68. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38.

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 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 firm had revenue of $826.60 million during the quarter, compared to analysts' expectations of $834.90 million. During the same period in the previous year, the business posted $0.76 earnings per share. The company's revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts forecast that Avient Co. will post 2.85 EPS for the current year.

Avient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, June 20th. This represents a $1.08 dividend on an annualized basis and a yield of 2.89%. Avient's dividend payout ratio (DPR) is 100.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Avient from $51.00 to $41.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Wells Fargo & Company raised their price target on shares of Avient from $39.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Robert W. Baird began coverage on shares of Avient in a research note on Friday, March 14th. They set a "neutral" rating and a $43.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $46.80.

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.