SG Americas Securities LLC cut its position in Avient Co. (NYSE:AVNT - Free Report) by 82.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,990 shares of the company's stock after selling 13,842 shares during the quarter. SG Americas Securities LLC's holdings in Avient were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in AVNT. State Street Corp boosted its stake in Avient by 3.0% during the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company's stock valued at $213,977,000 after acquiring an additional 121,349 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Avient by 1.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,057,356 shares of the company's stock worth $204,166,000 after buying an additional 65,452 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Avient by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company's stock worth $109,431,000 after buying an additional 43,249 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Avient by 1.1% in the 3rd quarter. Jennison Associates LLC now owns 1,696,565 shares of the company's stock worth $85,371,000 after buying an additional 17,976 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Avient by 4.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,522,656 shares of the company's stock worth $76,620,000 after buying an additional 63,138 shares during the last quarter. 95.48% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AVNT has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday. Finally, Seaport Res Ptn cut shares of Avient from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. One investment 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.
Check Out Our Latest Stock Analysis on AVNT
Avient Price Performance
Shares of AVNT traded up $0.07 during mid-day trading on Friday, hitting $43.02. The company's stock had a trading volume of 775,739 shares, compared to its average volume of 482,740. The firm has a 50-day moving average price of $42.48 and a 200 day moving average price of $46.33. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.08 and a beta of 1.51. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.21. Avient Co. has a fifty-two week low of $37.63 and a fifty-two week high of $54.68.
Avient (NYSE:AVNT - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Avient had a net margin of 4.66% and a return on equity of 10.56%. On average, research analysts predict that Avient Co. will post 2.65 EPS for the current fiscal year.
Avient Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Tuesday, March 18th. Avient's payout ratio is 66.67%.
Avient Profile
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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.
Further Reading
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