Raymond James Financial Inc. Acquires Shares of 204,196 Avient Co. (NYSE:AVNT)

Raymond James Financial Inc. purchased a new stake in shares of Avient Co. (NYSE:AVNT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 204,196 shares of the company's stock, valued at approximately $8,344,000. Raymond James Financial Inc. owned approximately 0.22% of Avient at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVNT. Smartleaf Asset Management LLC raised its position in Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock worth $28,000 after purchasing an additional 250 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Avient by 44.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company's stock worth $50,000 after acquiring an additional 310 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Avient during the third quarter worth about $60,000. Venturi Wealth Management LLC acquired a new position in shares of Avient in the fourth quarter worth approximately $96,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in Avient in the third quarter valued at approximately $201,000. Institutional investors and hedge funds own 95.48% of the company's stock.

Avient Stock Down 0.6 %

NYSE AVNT traded down $0.23 during mid-day trading on Wednesday, hitting $39.24. The company's stock had a trading volume of 383,842 shares, compared to its average volume of 489,112. 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 twelve month low of $37.49 and a twelve month high of $54.68. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 1.25 and a beta of 1.43. The company's 50 day simple moving average is $42.01 and its 200 day simple moving average is $45.46.

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Avient (NYSE:AVNT - Get Free Report) last issued its quarterly earnings data 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%. Analysts anticipate that Avient Co. will post 2.85 earnings per share for the current year.

Avient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be paid a $0.27 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 annualized dividend and a dividend yield of 2.75%. Avient's payout ratio is 59.02%.

Wall Street Analyst Weigh In

AVNT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Robert W. Baird started coverage on Avient in a research report on Friday, March 14th. They issued a "neutral" rating and a $43.00 price objective for the company. Baird R W upgraded Avient to a "hold" rating in a research report on Friday, March 14th. Finally, Wells Fargo & Company lowered their target price on Avient from $59.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Two equities 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.80.

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.