Avient Co. (NYSE:AVNT) to Issue Quarterly Dividend of $0.27

Avient Co. (NYSE:AVNT - Get Free Report) declared a quarterly dividend on Monday, February 10th,RTT News reports. Investors of record on Tuesday, March 18th will be given a dividend of 0.27 per share on Friday, April 4th. This represents a $1.08 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Tuesday, March 18th.

Avient has increased its dividend payment by an average of 6.0% annually over the last three years. Avient has a payout ratio of 32.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Avient to earn $2.87 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 37.6%.

Avient Trading Up 0.2 %

AVNT traded up $0.07 during midday trading on Friday, reaching $43.02. 775,739 shares of the company were exchanged, compared to its average volume of 551,261. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.63. Avient has a one year low of $37.63 and a one year high of $54.68. The stock has a market capitalization of $3.93 billion, a P/E ratio of 26.56, a PEG ratio of 1.08 and a beta of 1.51. The stock's 50-day simple moving average is $42.48 and its 200 day simple moving average is $46.32.

Avient (NYSE:AVNT - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.49. Avient had a return on equity of 10.56% and a net margin of 4.66%. As a group, analysts forecast that Avient will post 2.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Seaport Res Ptn cut Avient from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. Wells Fargo & Company dropped their price target on Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Avient presently has a consensus rating of "Moderate Buy" and an average target price of $54.00.

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.