Avient (NYSE:AVNT) Hits New 12-Month Low - Time to Sell?

Shares of Avient Co. (NYSE:AVNT - Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $37.15 and last traded at $37.38, with a volume of 121722 shares changing hands. The stock had previously closed at $38.33.

Analyst Ratings Changes

Several research analysts have recently weighed in on AVNT shares. 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 target price on the stock. Baird R W upgraded shares of Avient to a "hold" rating in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft increased 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. Wells Fargo & Company decreased their target price 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, Seaport Res Ptn raised Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Two equities research 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 MarketBeat, Avient has an average rating of "Moderate Buy" and a consensus price target of $51.80.

Avient Trading Down 0.8 %

The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average of $41.55 and a 200-day moving average of $45.18. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 1.25 and a beta of 1.43.

Remove Ads

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

Avient Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.93%. Avient's dividend payout ratio is currently 59.02%.

Hedge Funds Weigh In On Avient

Hedge funds have recently bought and sold shares of the business. Citigroup Inc. boosted its stake in shares of Avient by 220.0% during the 3rd quarter. Citigroup Inc. now owns 94,063 shares of the company's stock worth $4,733,000 after acquiring an additional 64,665 shares in the last quarter. Cerity Partners LLC boosted its position in Avient by 48.5% during the third quarter. Cerity Partners LLC now owns 30,868 shares of the company's stock worth $1,553,000 after purchasing an additional 10,088 shares during the period. FMR LLC boosted its position in Avient by 288.0% during the third quarter. FMR LLC now owns 26,138 shares of the company's stock worth $1,315,000 after purchasing an additional 19,401 shares during the period. Glenmede Trust Co. NA grew its holdings in Avient by 40.6% during the third quarter. Glenmede Trust Co. NA now owns 8,084 shares of the company's stock valued at $407,000 after purchasing an additional 2,335 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Avient by 20.4% in the third quarter. Captrust Financial Advisors now owns 18,331 shares of the company's stock valued at $922,000 after purchasing an additional 3,111 shares during the period. 95.48% of the stock is 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.