Avient Co. (NYSE:AVNT) Shares Purchased by Premier Fund Managers Ltd

Premier Fund Managers Ltd boosted its position in shares of Avient Co. (NYSE:AVNT - Free Report) by 97.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,894 shares of the company's stock after buying an additional 12,811 shares during the quarter. Premier Fund Managers Ltd's holdings in Avient were worth $1,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in Avient by 56.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Avient by 44.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company's stock valued at $50,000 after purchasing an additional 310 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Avient during the third quarter worth $60,000. Venturi Wealth Management LLC purchased a new position in shares of Avient in the fourth quarter worth about $96,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in Avient during the third quarter worth about $201,000. Hedge funds and other institutional investors own 95.48% of the company's stock.

Avient Stock Down 0.1 %

Shares of NYSE AVNT traded down $0.03 during mid-day trading on Tuesday, reaching $37.13. The company had a trading volume of 207,964 shares, compared to its average volume of 514,803. 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 52-week low of $36.01 and a 52-week high of $54.68. The stock has a market cap of $3.40 billion, a P/E ratio of 20.26, a PEG ratio of 1.25 and a beta of 1.43. The firm has a 50 day simple moving average of $41.68 and a two-hundred day simple moving average of $45.25.

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Avient (NYSE:AVNT - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.49 EPS for the quarter, meeting analysts' consensus estimates of $0.49. Avient had a return on equity of 10.44% and a net margin of 5.23%. Sell-side analysts predict that Avient Co. will post 2.85 earnings per share for the current year.

Avient Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Tuesday, March 18th. Avient's dividend payout ratio is currently 59.02%.

Wall Street Analysts Forecast Growth

AVNT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Seaport Res Ptn upgraded Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company reduced their target price on shares of Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Robert W. Baird started coverage on shares of Avient in a research report on Friday, March 14th. They issued a "neutral" rating and a $43.00 price objective on the stock. Finally, Baird R W raised shares of Avient to a "hold" rating in a research report on Friday, March 14th. Two 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 stock. According to data from MarketBeat, Avient has an average rating of "Moderate Buy" and a consensus target price 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.