Geode Capital Management LLC boosted its stake in Avient Co. (NYSE:AVNT - Free Report) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,174,292 shares of the company's stock after acquiring an additional 43,249 shares during the period. Geode Capital Management LLC owned about 2.38% of Avient worth $109,431,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of AVNT. UMB Bank n.a. boosted its stake in shares of Avient by 81.6% during the third quarter. UMB Bank n.a. now owns 663 shares of the company's stock worth $33,000 after buying an additional 298 shares during the period. Signaturefd LLC lifted its position in Avient by 58.7% during the 3rd quarter. Signaturefd LLC now owns 865 shares of the company's stock worth $44,000 after acquiring an additional 320 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Avient by 44.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company's stock valued at $50,000 after purchasing an additional 310 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Avient by 35.4% in the third quarter. GAMMA Investing LLC now owns 1,098 shares of the company's stock valued at $55,000 after purchasing an additional 287 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Avient during the second quarter worth approximately $59,000. Institutional investors and hedge funds own 95.48% of the company's stock.
Avient Price Performance
Shares of NYSE:AVNT traded down $0.68 during trading on Thursday, hitting $41.69. 737,243 shares of the stock were exchanged, compared to its average volume of 470,617. Avient Co. has a 12-month low of $35.50 and a 12-month high of $54.68. The company has a market cap of $3.81 billion, a PE ratio of 25.73, a P/E/G ratio of 1.26 and a beta of 1.50. The company has a fifty day moving average price of $49.61 and a two-hundred day moving average price of $47.03. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87.
Avient (NYSE:AVNT - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $815.20 million for the quarter, compared to analyst estimates of $797.50 million. Avient had a return on equity of 10.56% and a net margin of 4.66%. Avient's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. On average, analysts forecast that Avient Co. will post 2.66 EPS for the current year.
Avient Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 13th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.59%. This is a boost from Avient's previous quarterly dividend of $0.26. Avient's payout ratio is presently 66.67%.
Analysts Set New Price Targets
A number of brokerages have commented on AVNT. Oppenheimer upped their price objective on shares of Avient from $53.00 to $58.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Seaport Res Ptn downgraded Avient from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company increased their price objective on Avient from $55.00 to $59.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Avient presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.50.
View Our Latest Stock Report on AVNT
Insider Buying and Selling at Avient
In related news, SVP Joel R. Rathbun sold 5,762 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $51.45, for a total value of $296,454.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.06% of the company's stock.
About Avient
(
Free Report)
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.
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