Avient Co. (NYSE:AVNT) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Avient Co. (NYSE:AVNT - Get Free Report) have earned an average rating of "Moderate Buy" from the seven research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $51.80.

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, February 14th. Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Robert W. Baird assumed coverage on shares of Avient in a research note on Friday, March 14th. They issued a "neutral" rating and a $43.00 price target on the stock. Wells Fargo & Company reduced their price objective on Avient from $59.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, Baird R W raised Avient to a "hold" rating in a research report on Friday, March 14th.

Avient Price Performance

AVNT traded down $0.82 during trading on Monday, reaching $39.66. The stock had a trading volume of 600,333 shares, compared to its average volume of 484,269. Avient has a 1-year low of $37.63 and a 1-year high of $54.68. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 1.25 and a beta of 1.43. The stock has a 50 day moving average of $42.00 and a two-hundred day moving average of $45.68. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88.

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Avient (NYSE:AVNT - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.49 EPS for the quarter, hitting 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, equities analysts anticipate that Avient will post 2.85 EPS for the current fiscal year.

Avient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Tuesday, March 18th. Avient's dividend payout ratio is 59.02%.

Institutional Investors Weigh In On Avient

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVNT. Atria Investments Inc lifted its stake in shares of Avient by 12.9% in the third quarter. Atria Investments Inc now owns 14,789 shares of the company's stock worth $744,000 after buying an additional 1,689 shares during the last quarter. Natixis Advisors LLC lifted its position in Avient by 5.1% during the 3rd quarter. Natixis Advisors LLC now owns 53,615 shares of the company's stock worth $2,698,000 after acquiring an additional 2,581 shares during the last quarter. Chesapeake Capital Corp IL boosted its holdings in Avient by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 9,411 shares of the company's stock valued at $474,000 after acquiring an additional 2,053 shares during the period. Prudent Man Advisors LLC acquired a new stake in shares of Avient in the third quarter valued at about $200,000. Finally, Pathstone Holdings LLC increased its stake in shares of Avient by 2.9% in the third quarter. Pathstone Holdings LLC now owns 46,675 shares of the company's stock worth $2,350,000 after purchasing an additional 1,300 shares during the period. 95.48% of the stock is currently owned by institutional investors and hedge funds.

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.