Dynamic Technology Lab Private Ltd Makes New $993,000 Investment in Avient Co. (NYSE:AVNT)

Dynamic Technology Lab Private Ltd bought a new position in Avient Co. (NYSE:AVNT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 24,311 shares of the company's stock, valued at approximately $993,000.

Several other hedge funds also recently made changes to their positions in AVNT. FMR LLC boosted its holdings in Avient by 288.0% in 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. Captrust Financial Advisors boosted its position in Avient by 20.4% during the 3rd 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. Centiva Capital LP bought a new position in Avient during the 3rd quarter worth $253,000. Point72 Asset Management L.P. increased its position in Avient by 112.4% in the third quarter. Point72 Asset Management L.P. now owns 151,953 shares of the company's stock worth $7,646,000 after buying an additional 80,414 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in Avient in the third quarter valued at $60,000. Institutional investors and hedge funds own 95.48% of the company's stock.

Avient Price Performance

Shares of Avient stock traded down $0.27 on Friday, hitting $30.26. The company had a trading volume of 166,695 shares, compared to its average volume of 542,978. Avient Co. has a 52 week low of $27.86 and a 52 week high of $54.68. The company has a market cap of $2.77 billion, a PE ratio of 16.52, a PEG ratio of 1.25 and a beta of 1.41. The business has a 50-day simple moving average of $39.52 and a 200-day simple moving average of $44.18. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42.

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Avient (NYSE:AVNT - Get Free Report) last issued its quarterly earnings results 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 return on equity of 10.44% and a net margin of 5.23%. Research analysts expect that Avient Co. will post 2.85 EPS for the current fiscal year.

Avient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Tuesday, March 18th. Avient's payout ratio is 59.02%.

Analyst Upgrades and Downgrades

AVNT has been the topic of a number of analyst reports. Robert W. Baird began coverage on shares of Avient in a report on Friday, March 14th. They issued a "neutral" rating and a $43.00 price objective on the stock. Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company reduced their price objective on Avient from $55.00 to $39.00 and set an "overweight" rating for the company in a research report on Wednesday. Baird R W raised Avient to a "hold" rating in a report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Avient currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.60.

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.