Cibc World Markets Corp Buys New Shares in Avient Co. (NYSE:AVNT)

Cibc World Markets Corp acquired a new stake in shares of Avient Co. (NYSE:AVNT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,453 shares of the company's stock, valued at approximately $345,000.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Avient by 3.0% during the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company's stock valued at $213,977,000 after purchasing an additional 121,349 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Avient by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company's stock valued at $109,431,000 after acquiring an additional 43,249 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Avient by 7.6% in the 4th quarter. Jennison Associates LLC now owns 1,825,283 shares of the company's stock worth $74,581,000 after acquiring an additional 128,718 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Avient by 1.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,515,362 shares of the company's stock worth $76,253,000 after acquiring an additional 17,765 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Avient by 120.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,460,481 shares of the company's stock valued at $59,675,000 after purchasing an additional 797,112 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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Avient Trading Down 3.7 %

Shares of NYSE AVNT traded down $1.43 during mid-day trading on Friday, hitting $36.90. The company's stock had a trading volume of 563,829 shares, compared to its average volume of 515,540. Avient Co. has a one year low of $36.69 and a one year high of $54.68. The company's fifty day simple moving average is $41.90 and its 200-day simple moving average is $45.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.25 and a beta of 1.43.

Avient (NYSE:AVNT - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. On average, sell-side analysts anticipate that Avient Co. will post 2.85 earnings per share for the current fiscal 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 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 dividend yield of 2.93%. Avient's dividend payout ratio is 59.02%.

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.