Intech Investment Management LLC raised its position in shares of Avient Co. (NYSE:AVNT - Free Report) by 174.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,136 shares of the company's stock after purchasing an additional 49,643 shares during the period. Intech Investment Management LLC owned about 0.09% of Avient worth $3,193,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Westfield Capital Management Co. LP raised its holdings in shares of Avient by 4.3% in the third quarter. Westfield Capital Management Co. LP now owns 1,522,656 shares of the company's stock valued at $76,620,000 after acquiring an additional 63,138 shares in the last quarter. FMR LLC raised its holdings in shares of Avient by 288.0% in the 3rd quarter. FMR LLC now owns 26,138 shares of the company's stock valued at $1,315,000 after purchasing an additional 19,401 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Avient by 22.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company's stock worth $30,626,000 after purchasing an additional 111,489 shares during the period. Cerity Partners LLC boosted its stake in shares of Avient by 48.5% during the third quarter. Cerity Partners LLC now owns 30,868 shares of the company's stock valued at $1,553,000 after purchasing an additional 10,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Avient by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,243,128 shares of the company's stock worth $62,554,000 after buying an additional 9,893 shares in the last quarter. 95.48% of the stock is owned by institutional investors.
Avient Stock Performance
Avient stock traded up $1.33 during mid-day trading on Monday, reaching $39.72. 735,751 shares of the company traded hands, compared to its average volume of 488,144. Avient Co. has a fifty-two week low of $37.49 and a fifty-two week high of $54.68. The firm's fifty day moving average is $42.02 and its two-hundred day moving average is $45.54. 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 company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.25 and a beta of 1.43.
Avient (NYSE:AVNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.49 EPS for the quarter, hitting analysts' consensus estimates of $0.49. Avient had a return on equity of 10.44% and a net margin of 5.23%. On average, equities research analysts expect that Avient Co. will post 2.85 earnings per share for the current fiscal year.
Avient Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Tuesday, March 18th will be given a $0.27 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 dividend on an annualized basis and a yield of 2.72%. Avient's dividend payout ratio is currently 59.02%.
Analyst Ratings Changes
AVNT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted 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. Wells Fargo & Company lowered their price target on shares of Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Baird R W raised shares of Avient to a "hold" rating in a research report on Friday, March 14th. Robert W. Baird started coverage on shares of Avient in a research report on Friday, March 14th. They set a "neutral" rating and a $43.00 target price for the company. Finally, Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Avient presently has an average rating of "Moderate Buy" and an average target price of $51.80.
Get Our Latest Stock Analysis on Avient
Avient Company Profile
(
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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