Trexquant Investment LP Invests $819,000 in Avient Co. (NYSE:AVNT)

Trexquant Investment LP purchased a new stake in Avient Co. (NYSE:AVNT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,052 shares of the company's stock, valued at approximately $819,000.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Avient by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 10,313,859 shares of the company's stock valued at $421,424,000 after purchasing an additional 79,661 shares in the last quarter. Franklin Resources Inc. increased its holdings in Avient by 9.5% in the fourth quarter. Franklin Resources Inc. now owns 3,185,999 shares of the company's stock valued at $130,180,000 after buying an additional 276,357 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Avient by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company's stock worth $109,431,000 after acquiring an additional 43,249 shares during the period. Jennison Associates LLC boosted its stake 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 acquiring an additional 128,718 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of Avient by 1.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,515,362 shares of the company's stock valued at $76,253,000 after acquiring an additional 17,765 shares during the period. 95.48% of the stock is owned by institutional investors and hedge funds.

Avient Price Performance

Shares of AVNT traded down $1.28 during trading hours on Wednesday, hitting $30.35. 337,672 shares of the stock were exchanged, compared to its average volume of 545,776. The stock's 50-day moving average price is $38.84 and its two-hundred day moving average price is $43.79. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.42 and a current ratio of 1.88. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.41. Avient Co. has a 12-month low of $27.86 and a 12-month high of $54.68.

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Avient (NYSE:AVNT - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.49 earnings per share (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%. Research analysts expect that Avient Co. will post 2.85 earnings per share for the current year.

Avient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Tuesday, March 18th. Avient's dividend payout ratio (DPR) is 59.02%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Baird R W raised Avient to a "hold" rating in a report on Friday, March 14th. Seaport Res Ptn raised Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Wells Fargo & Company reduced their price objective on shares of Avient from $55.00 to $39.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, Robert W. Baird started coverage on shares of Avient in a report on Friday, March 14th. They set a "neutral" rating and a $43.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.60.

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.