UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Avient Co. (NYSE:AVNT - Free Report) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 211,654 shares of the company's stock after selling 14,395 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.23% of Avient worth $10,650,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. UMB Bank n.a. raised its position in Avient by 81.6% in the 3rd quarter. UMB Bank n.a. now owns 663 shares of the company's stock worth $33,000 after purchasing an additional 298 shares during the period. GAMMA Investing LLC boosted its stake in shares of Avient by 88.6% during the second quarter. GAMMA Investing LLC now owns 811 shares of the company's stock valued at $35,000 after purchasing an additional 381 shares during the period. Signaturefd LLC grew its holdings in shares of Avient by 58.7% in the third quarter. Signaturefd LLC now owns 865 shares of the company's stock worth $44,000 after purchasing an additional 320 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Avient in the second quarter worth $59,000. Finally, Covestor Ltd raised its holdings in Avient by 185.5% during the 3rd quarter. Covestor Ltd now owns 1,459 shares of the company's stock valued at $73,000 after buying an additional 948 shares during the last quarter. 95.48% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, SVP Joel R. Rathbun sold 5,762 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total transaction of $296,454.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.88% of the company's stock.
Avient Stock Down 0.1 %
AVNT traded down $0.05 on Friday, hitting $49.86. The company had a trading volume of 416,086 shares, compared to its average volume of 458,871. Avient Co. has a 52-week low of $35.33 and a 52-week high of $54.68. The stock has a fifty day simple moving average of $49.87 and a 200-day simple moving average of $46.87. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.21. The firm has a market capitalization of $4.56 billion, a P/E ratio of 30.78, a P/E/G ratio of 1.29 and a beta of 1.50.
Avient (NYSE:AVNT - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $815.20 million for the quarter, compared to analyst estimates of $797.50 million. Avient had a return on equity of 10.56% and a net margin of 4.66%. The firm's revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. As a group, equities analysts expect that Avient Co. will post 2.66 EPS for the current fiscal year.
Avient Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 13th will be given a dividend of $0.27 per share. This is a boost from Avient's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, December 13th. Avient's dividend payout ratio (DPR) is 63.58%.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Avient from $55.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday. Oppenheimer increased their price objective on Avient from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Finally, Seaport Res Ptn lowered Avient from a "strong-buy" rating to a "hold" rating in a research report 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. Based on data from MarketBeat.com, Avient presently has an average rating of "Moderate Buy" and a consensus price target of $55.50.
Read Our Latest Report on Avient
About Avient
(
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.
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