AlphaQuest LLC raised its stake in shares of Avient Co. (NYSE:AVNT - Free Report) by 84,330.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,952 shares of the company's stock after purchasing an additional 21,926 shares during the period. AlphaQuest LLC's holdings in Avient were worth $897,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in shares of Avient by 3.0% in the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company's stock valued at $213,977,000 after buying an additional 121,349 shares during the period. Geode Capital Management LLC raised its stake in Avient by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company's stock valued at $109,431,000 after buying an additional 43,249 shares in the last quarter. Jennison Associates LLC increased its position in shares of Avient by 7.6% during the fourth quarter. Jennison Associates LLC now owns 1,825,283 shares of the company's stock worth $74,581,000 after purchasing an additional 128,718 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Avient by 4.3% in the third quarter. Westfield Capital Management Co. LP now owns 1,522,656 shares of the company's stock valued at $76,620,000 after buying an additional 63,138 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in Avient by 1.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,515,362 shares of the company's stock worth $76,253,000 after acquiring an additional 17,765 shares during the period. Hedge funds and other institutional investors own 95.48% of the company's stock.
Analyst Upgrades and Downgrades
AVNT has been the topic of several research analyst reports. Robert W. Baird started coverage on Avient in a research note on Friday. They set a "neutral" rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Seaport Res Ptn upgraded Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Finally, 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. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $51.80.
View Our Latest Research Report on Avient
Avient Stock Up 2.1 %
AVNT stock traded up $0.84 during midday trading on Friday, reaching $40.33. The company had a trading volume of 644,570 shares, compared to its average volume of 602,177. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. Avient Co. has a 1 year low of $37.63 and a 1 year high of $54.68. The company has a 50 day moving average of $41.92 and a two-hundred day moving average of $45.97. The company has a market capitalization of $3.69 billion, a P/E ratio of 22.04, a PEG ratio of 1.25 and a beta of 1.43.
Avient (NYSE:AVNT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Avient had a return on equity of 10.44% and a net margin of 5.23%. On average, equities research analysts expect that Avient Co. will post 2.85 earnings per share for the current fiscal year.
Avient Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 yield of 2.68%. The ex-dividend date is Tuesday, March 18th. Avient's dividend payout ratio (DPR) is 59.02%.
About Avient
(
Free Report)
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.
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