Phocas Financial Corp. Sells 148,729 Shares of Avient Co. (NYSE:AVNT)

Phocas Financial Corp. lessened its stake in shares of Avient Co. (NYSE:AVNT - Free Report) by 85.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 26,123 shares of the company's stock after selling 148,729 shares during the period. Phocas Financial Corp.'s holdings in Avient were worth $1,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVNT. Creative Planning raised its holdings in Avient by 35.8% during the 3rd quarter. Creative Planning now owns 35,545 shares of the company's stock valued at $1,789,000 after buying an additional 9,378 shares during the period. Raymond James & Associates raised its holdings in Avient by 2.0% during the 3rd quarter. Raymond James & Associates now owns 50,484 shares of the company's stock valued at $2,540,000 after buying an additional 1,013 shares during the period. Signaturefd LLC raised its holdings in Avient by 58.7% during the 3rd quarter. Signaturefd LLC now owns 865 shares of the company's stock valued at $44,000 after buying an additional 320 shares during the period. State of Alaska Department of Revenue increased its stake in Avient by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 10,560 shares of the company's stock worth $531,000 after purchasing an additional 715 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in Avient by 109.8% in the third quarter. Harbor Capital Advisors Inc. now owns 106,647 shares of the company's stock worth $5,366,000 after purchasing an additional 55,823 shares during the period. Hedge funds and other institutional investors own 95.48% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AVNT shares. Deutsche Bank Aktiengesellschaft increased their target price on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Seaport Res Ptn upgraded Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their target price on Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $54.00.

Avient Stock Up 1.7 %

Shares of Avient stock traded up $0.72 during trading on Friday, hitting $42.81. 563,727 shares of the stock traded hands, compared to its average volume of 583,290. The firm has a market cap of $3.91 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 1.25 and a beta of 1.51. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. Avient Co. has a 52-week low of $37.63 and a 52-week high of $54.68. The stock's fifty day simple moving average is $41.89 and its 200 day simple moving average is $46.26.

Avient (NYSE:AVNT - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.49 EPS 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%. On average, equities analysts predict that Avient Co. will post 2.85 earnings per share for the current fiscal year.

Avient Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 annualized dividend and a dividend yield of 2.52%. Avient's dividend payout ratio is currently 59.02%.

Avient 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.