Charles Schwab Investment Management Inc. Increases Stock Holdings in Avient Co. (NYSE:AVNT)

Charles Schwab Investment Management Inc. lifted its position in Avient Co. (NYSE:AVNT - Free Report) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,255,904 shares of the company's stock after purchasing an additional 12,776 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.37% of Avient worth $51,316,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AVNT. Choreo LLC lifted its position in Avient by 4.3% during the fourth quarter. Choreo LLC now owns 5,812 shares of the company's stock valued at $237,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock valued at $28,000 after buying an additional 250 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Avient by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company's stock valued at $227,000 after acquiring an additional 258 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Avient by 44.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company's stock worth $50,000 after acquiring an additional 310 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Avient by 3.8% in the third quarter. PNC Financial Services Group Inc. now owns 22,061 shares of the company's stock worth $1,110,000 after acquiring an additional 798 shares in the last quarter. 95.48% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Robert W. Baird started coverage on Avient in a research note on Friday. They issued a "neutral" rating and a $43.00 price objective for the company. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company cut their price objective on shares of Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, Baird R W upgraded shares of Avient to a "hold" rating in a report on Friday. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.80.

Avient Trading Up 1.0 %

AVNT stock traded up $0.39 during trading on Monday, hitting $40.68. The company had a trading volume of 595,718 shares, compared to its average volume of 482,720. Avient Co. has a 52-week low of $37.63 and a 52-week high of $54.68. The company has a 50 day simple moving average of $41.93 and a 200-day simple moving average of $45.84. The firm has a market capitalization of $3.72 billion, a P/E ratio of 22.23, a PEG ratio of 1.25 and a beta of 1.43. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88.

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

Avient Dividend Announcement

The business also recently announced 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. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 dividend on an annualized basis and a yield of 2.65%. Avient's dividend payout ratio is currently 59.02%.

About Avient

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.