Geode Capital Management LLC Has $88.03 Million Position in Avient Co. (NYSE:AVNT)

Geode Capital Management LLC lessened its holdings in Avient Co. (NYSE:AVNT - Free Report) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,153,945 shares of the company's stock after selling 20,347 shares during the period. Geode Capital Management LLC owned approximately 2.36% of Avient worth $88,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in Avient by 22.4% in the third quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company's stock valued at $30,626,000 after purchasing an additional 111,489 shares during the period. FMR LLC raised its holdings in shares of 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 acquiring an additional 19,401 shares during the last quarter. State Street Corp grew its stake in Avient by 3.0% in the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company's stock worth $213,977,000 after acquiring an additional 121,349 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Avient during the 3rd quarter worth about $304,000. Finally, Xponance Inc. increased its holdings in shares of Avient by 5.3% during the 4th quarter. Xponance Inc. now owns 12,942 shares of the company's stock worth $529,000 after buying an additional 656 shares during the last quarter. 95.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AVNT shares. Baird R W raised Avient to a "hold" rating in a research report on Friday, March 14th. Wells Fargo & Company reduced their price target on shares of Avient from $55.00 to $39.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft raised their price target on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, February 14th. Robert W. Baird assumed coverage on Avient in a research report on Friday, March 14th. They issued a "neutral" rating and a $43.00 target price for the company. Finally, Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.60.

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Avient Stock Up 0.5 %

AVNT traded up $0.16 during midday trading on Tuesday, hitting $31.92. 336,815 shares of the company's stock traded hands, compared to its average volume of 546,121. The stock's fifty day simple moving average is $39.06 and its 200-day simple moving average is $43.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42. Avient Co. has a one year low of $27.86 and a one year high of $54.68. The company has a market cap of $2.92 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.25 and a beta of 1.41.

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

Avient Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.08 annualized dividend and a yield of 3.38%. Avient's dividend payout ratio is currently 59.02%.

Avient Company 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.