Teacher Retirement System of Texas Grows Position in Avient Co. (NYSE:AVNT)

Teacher Retirement System of Texas raised its holdings in shares of Avient Co. (NYSE:AVNT - Free Report) by 36.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,620 shares of the company's stock after buying an additional 10,022 shares during the period. Teacher Retirement System of Texas' holdings in Avient were worth $1,537,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVNT. Charles Schwab Investment Management Inc. boosted its holdings in Avient by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,243,128 shares of the company's stock valued at $62,554,000 after acquiring an additional 9,893 shares during the period. Citigroup Inc. boosted its stake in shares of Avient by 220.0% during the third quarter. Citigroup Inc. now owns 94,063 shares of the company's stock valued at $4,733,000 after purchasing an additional 64,665 shares during the period. Cerity Partners LLC grew its holdings in shares of Avient by 48.5% in the third quarter. Cerity Partners LLC now owns 30,868 shares of the company's stock worth $1,553,000 after purchasing an additional 10,088 shares during the last quarter. FMR LLC grew its holdings in shares of Avient by 288.0% in the third quarter. FMR LLC now owns 26,138 shares of the company's stock worth $1,315,000 after purchasing an additional 19,401 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its stake in shares of Avient by 40.6% in the third quarter. Glenmede Trust Co. NA now owns 8,084 shares of the company's stock worth $407,000 after buying an additional 2,335 shares during the period. 95.48% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

AVNT has been the subject of several analyst reports. Baird R W raised shares of Avient to a "hold" rating in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft raised 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. Robert W. Baird began coverage on Avient in a report on Friday, March 14th. They set a "neutral" rating and a $43.00 price target on the stock. Wells Fargo & Company dropped their price objective on Avient from $59.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Finally, Seaport Res Ptn raised Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Avient currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.80.

Avient Stock Up 2.9 %

NYSE:AVNT traded up $1.07 during trading hours on Wednesday, reaching $37.95. 595,520 shares of the company traded hands, compared to its average volume of 518,164. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. The business's 50-day moving average price is $41.46 and its two-hundred day moving average price is $45.12. Avient Co. has a 1 year low of $36.01 and a 1 year high of $54.68. The stock has a market capitalization of $3.47 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.25 and a beta of 1.43.

Avient (NYSE:AVNT - Get Free Report) last posted its quarterly earnings results 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 return on equity of 10.44% and a net margin of 5.23%. Analysts predict that Avient Co. will post 2.85 earnings per share for the current year.

Avient Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Tuesday, March 18th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, March 18th. Avient's dividend payout ratio (DPR) is currently 59.02%.

About Avient

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.