JPMorgan Chase & Co. Increases Stock Position in Avient Co. (NYSE:AVNT)

JPMorgan Chase & Co. lifted its holdings in shares of Avient Co. (NYSE:AVNT - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 790,097 shares of the company's stock after buying an additional 181,476 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.86% of Avient worth $32,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Avient by 120.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,460,481 shares of the company's stock worth $59,675,000 after acquiring an additional 797,112 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Avient during the fourth quarter worth about $8,344,000. Jennison Associates LLC raised its position in shares of Avient by 7.6% during the 4th quarter. Jennison Associates LLC now owns 1,825,283 shares of the company's stock worth $74,581,000 after purchasing an additional 128,718 shares during the last quarter. State Street Corp lifted 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 valued at $213,977,000 after buying an additional 121,349 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Avient by 221.7% in the 3rd quarter. Barclays PLC now owns 173,002 shares of the company's stock worth $8,706,000 after buying an additional 119,229 shares during the last quarter. Hedge funds and other institutional investors own 95.48% of the company's stock.

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Analyst Ratings Changes

AVNT has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Avient from $55.00 to $39.00 and set an "overweight" rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, February 14th. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Robert W. Baird began coverage on shares of Avient in a research note on Friday, March 14th. They issued a "neutral" rating and a $43.00 price target on the stock. Finally, Baird R W raised shares of Avient to a "hold" rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Avient has an average rating of "Moderate Buy" and a consensus price target of $48.60.

Avient Stock Up 1.9 %

Avient stock traded up $0.59 during trading on Friday, reaching $31.12. The stock had a trading volume of 710,526 shares, compared to its average volume of 545,527. Avient Co. has a 52-week low of $27.86 and a 52-week high of $54.68. The business has a 50 day moving average price of $39.28 and a 200 day moving average price of $44.05. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. The stock has a market cap of $2.85 billion, a PE ratio of 17.01, a P/E/G ratio of 1.25 and a beta of 1.41.

Avient (NYSE:AVNT - Get Free Report) last issued its 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 net margin of 5.23% and a return on equity of 10.44%. On average, analysts predict that Avient Co. will post 2.85 EPS for the current year.

Avient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Tuesday, March 18th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Tuesday, March 18th. Avient's payout ratio is 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.