Avient Co. (NYSE:AVNT) SVP Sells $296,454.90 in Stock

Avient Co. (NYSE:AVNT - Get Free Report) 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Avient Stock Down 2.0 %

NYSE:AVNT traded down $1.03 during mid-day trading on Tuesday, hitting $51.08. The stock had a trading volume of 435,757 shares, compared to its average volume of 463,059. The company has a market capitalization of $4.67 billion, a PE ratio of 32.17, a PEG ratio of 1.32 and a beta of 1.48. Avient Co. has a twelve month low of $31.45 and a twelve month high of $54.68. The stock has a 50-day simple moving average of $48.50 and a two-hundred day simple moving average of $46.04. 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 issued its quarterly earnings data on Thursday, October 31st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. Avient had a return on equity of 10.56% and a net margin of 4.66%. The firm had revenue of $815.20 million during the quarter, compared to the consensus estimate of $797.50 million. During the same quarter in the previous year, the company posted $0.57 EPS. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Avient Co. will post 2.66 EPS for the current year.

Avient Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 13th will be issued a $0.27 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.11%. This is a boost from Avient's previous quarterly dividend of $0.26. Avient's dividend payout ratio (DPR) is presently 66.67%.

Institutional Trading of Avient

Several large investors have recently added to or reduced their stakes in AVNT. Tidal Investments LLC raised its holdings in shares of Avient by 2.1% in the first quarter. Tidal Investments LLC now owns 12,877 shares of the company's stock valued at $559,000 after purchasing an additional 259 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Avient by 3.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 9,145 shares of the company's stock valued at $397,000 after purchasing an additional 276 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Avient by 35.4% in the third quarter. GAMMA Investing LLC now owns 1,098 shares of the company's stock worth $55,000 after acquiring an additional 287 shares during the last quarter. CWM LLC raised its holdings in shares of Avient by 21.5% in the 3rd quarter. CWM LLC now owns 1,637 shares of the company's stock valued at $82,000 after buying an additional 290 shares during the period. Finally, UMB Bank n.a. raised its stake in Avient by 81.6% during the 3rd quarter. UMB Bank n.a. now owns 663 shares of the company's stock valued at $33,000 after acquiring an additional 298 shares during the last quarter. 95.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVNT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Avient from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $49.00 to $52.00 in a report on Wednesday, August 7th. Oppenheimer lifted their price target on shares of Avient from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their target price on Avient from $52.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Finally, Seaport Res Ptn downgraded shares of Avient from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $54.50.

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.