Avient Co. (NYSE:AVNT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in Avient Co. (NYSE:AVNT - Free Report) by 48.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 48,262 shares of the company's stock after selling 45,388 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of Avient worth $1,972,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC bought a new position in shares of Avient during the 4th quarter valued at $96,000. State of New Jersey Common Pension Fund D boosted its position in Avient by 3.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,076 shares of the company's stock valued at $1,719,000 after buying an additional 1,295 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Avient by 1.1% during the fourth quarter. Rhumbline Advisers now owns 321,802 shares of the company's stock worth $13,149,000 after purchasing an additional 3,451 shares in the last quarter. Choreo LLC lifted its position in shares of Avient by 4.3% during the fourth quarter. Choreo LLC now owns 5,812 shares of the company's stock worth $237,000 after purchasing an additional 238 shares in the last quarter. Finally, Trust Point Inc. lifted its position in shares of Avient by 23.6% during the fourth quarter. Trust Point Inc. now owns 5,164 shares of the company's stock worth $211,000 after purchasing an additional 985 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company's stock.

Avient Price Performance

Shares of NYSE:AVNT opened at $41.87 on Friday. The firm has a 50 day moving average of $41.94 and a 200-day moving average of $46.12. The stock has a market capitalization of $3.83 billion, a PE ratio of 22.88, a PEG ratio of 1.25 and a beta of 1.43. 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 12 month low of $37.63 and a 12 month high of $54.68.

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Avient (NYSE:AVNT - Get Free Report) last announced its quarterly earnings results 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%. On average, equities research analysts predict that Avient Co. will post 2.85 EPS for the current fiscal year.

Avient Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Tuesday, March 18th. Avient's dividend payout ratio is currently 59.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AVNT shares. Wells Fargo & Company lowered their target price on shares of Avient from $59.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $54.00.

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.

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