Fisher Asset Management LLC Has $23.06 Million Position in Avient Co. (NYSE:AVNT)

Fisher Asset Management LLC trimmed its stake in Avient Co. (NYSE:AVNT - Free Report) by 7.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 564,253 shares of the company's stock after selling 46,746 shares during the quarter. Fisher Asset Management LLC owned approximately 0.62% of Avient worth $23,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AVNT. Venturi Wealth Management LLC purchased a new position in Avient in the 4th quarter worth about $96,000. State of New Jersey Common Pension Fund D boosted its holdings in shares of Avient by 3.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,076 shares of the company's stock worth $1,719,000 after buying an additional 1,295 shares during the period. Rhumbline Advisers increased its position in shares of Avient by 1.1% in the fourth quarter. Rhumbline Advisers now owns 321,802 shares of the company's stock worth $13,149,000 after acquiring an additional 3,451 shares in the last quarter. Choreo LLC increased its position in shares of Avient by 4.3% in the fourth quarter. Choreo LLC now owns 5,812 shares of the company's stock worth $237,000 after acquiring an additional 238 shares in the last quarter. Finally, Trust Point Inc. raised its holdings in shares of Avient by 23.6% during the fourth quarter. Trust Point Inc. now owns 5,164 shares of the company's stock valued at $211,000 after acquiring an additional 985 shares during the period. 95.48% of the stock is owned by institutional investors and hedge funds.

Avient Stock Down 1.7 %

Shares of NYSE AVNT traded down $0.73 during trading hours on Friday, hitting $41.87. The stock had a trading volume of 1,134,531 shares, compared to its average volume of 604,473. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.42 and a current ratio of 1.88. The company has a market capitalization of $3.83 billion, a P/E ratio of 22.88, a P/E/G ratio of 1.25 and a beta of 1.43. Avient Co. has a 52 week low of $37.63 and a 52 week high of $54.68. The firm's 50-day moving average price is $41.91 and its two-hundred day moving average price is $46.15.

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

Avient Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.08 annualized dividend and a dividend yield of 2.58%. Avient's dividend payout ratio (DPR) is presently 59.02%.

Analyst Ratings Changes

Several equities analysts have weighed in on AVNT shares. Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Wells Fargo & Company lowered their price target on Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Avient presently has an average rating of "Buy" and an average target price of $54.00.

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.