Avient Co. (NYSE:AVNT) Position Decreased by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its holdings in Avient Co. (NYSE:AVNT - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,857,500 shares of the company's stock after selling 185,018 shares during the quarter. Alliancebernstein L.P. owned approximately 3.13% of Avient worth $116,757,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AVNT. Choreo LLC boosted its holdings in shares of Avient by 4.3% in the 4th quarter. Choreo LLC now owns 5,812 shares of the company's stock valued at $237,000 after buying an additional 238 shares during the period. Smartleaf Asset Management LLC lifted its holdings 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 acquiring an additional 250 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Avient by 4.0% in 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 period. Janney Montgomery Scott LLC grew its holdings in shares of Avient by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company's stock valued at $227,000 after purchasing an additional 258 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Avient by 44.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company's stock worth $50,000 after purchasing an additional 310 shares during the period. Institutional investors own 95.48% of the company's stock.

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Avient Price Performance

Avient stock traded down $0.60 during trading hours on Monday, hitting $29.83. 1,547,840 shares of the company traded hands, compared to its average volume of 531,758. Avient Co. has a 1-year low of $28.35 and a 1-year high of $54.68. The firm has a market cap of $2.73 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.25 and a beta of 1.41. The firm's 50-day simple moving average is $40.74 and its two-hundred day simple moving average is $44.75. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88.

Avient (NYSE:AVNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. As a group, 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. Stockholders of record on Tuesday, March 18th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Tuesday, March 18th. Avient's dividend payout ratio is presently 59.02%.

Analyst Ratings Changes

A number of research firms recently issued reports on AVNT. Baird R W upgraded Avient to a "hold" rating in a research report on Friday, March 14th. Robert W. Baird began coverage on shares of Avient in a research report on Friday, March 14th. They set a "neutral" rating and a $43.00 price target for the company. Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Wells Fargo & Company decreased their target price on shares of Avient from $59.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price target 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. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Avient has an average rating of "Moderate Buy" and an average price target of $51.80.

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.