Trexquant Investment LP Makes New $819,000 Investment in Avient Co. (NYSE:AVNT)

Trexquant Investment LP acquired a new stake in Avient Co. (NYSE:AVNT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 20,052 shares of the company's stock, valued at approximately $819,000.

Other large investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Avient in the 4th quarter valued at $90,000. Franklin Resources Inc. boosted its stake in shares of 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 during the period. Premier Fund Managers Ltd grew its holdings in shares of Avient by 97.9% during the fourth quarter. Premier Fund Managers Ltd now owns 25,894 shares of the company's stock worth $1,039,000 after buying an additional 12,811 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Avient by 29.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,655 shares of the company's stock valued at $599,000 after acquiring an additional 3,371 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in Avient during the 4th quarter worth approximately $2,573,000. 95.48% of the stock is owned by institutional investors and hedge funds.

Avient Price Performance

Shares of NYSE:AVNT traded up $0.30 on Thursday, reaching $31.11. 113,865 shares of the company were exchanged, compared to its average volume of 543,431. The company has a 50-day moving average of $38.62 and a 200-day moving average of $43.70. 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 cap of $2.85 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 1.25 and a beta of 1.41. 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 released its quarterly earnings data on Thursday, February 13th. The company reported $0.49 EPS for the quarter, hitting analysts' consensus estimates of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. Equities analysts forecast that Avient Co. will post 2.85 earnings per share for the current fiscal year.

Avient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Tuesday, March 18th were issued a dividend of $0.27 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.08 annualized dividend and a yield of 3.47%. Avient's dividend payout ratio is presently 59.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AVNT shares. Baird R W raised Avient to a "hold" rating in a report on Friday, March 14th. 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 initiated coverage on shares of Avient in a research note on Friday, March 14th. They issued a "neutral" rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company cut their price target on shares of Avient from $55.00 to $39.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Avient has a consensus rating of "Moderate Buy" and an average price target of $48.60.

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.