Avient Co. (NYSE:AVNT) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in shares of Avient Co. (NYSE:AVNT - Free Report) by 120.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,460,481 shares of the company's stock after buying an additional 797,112 shares during the period. Victory Capital Management Inc. owned about 1.60% of Avient worth $59,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVNT. State of Alaska Department of Revenue raised its stake in shares of Avient by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 10,560 shares of the company's stock valued at $531,000 after purchasing an additional 715 shares during the period. Forte Capital LLC ADV raised its stake in shares of Avient by 14.4% during the third quarter. Forte Capital LLC ADV now owns 6,308 shares of the company's stock valued at $317,000 after purchasing an additional 795 shares during the period. Assetmark Inc. raised its stake in shares of Avient by 5.7% during the third quarter. Assetmark Inc. now owns 23,862 shares of the company's stock valued at $1,201,000 after purchasing an additional 1,287 shares during the period. Atria Investments Inc raised its stake in shares of Avient by 12.9% during the third quarter. Atria Investments Inc now owns 14,789 shares of the company's stock valued at $744,000 after purchasing an additional 1,689 shares during the period. Finally, Covestor Ltd raised its stake in shares of Avient by 185.5% during the third quarter. Covestor Ltd now owns 1,459 shares of the company's stock valued at $73,000 after purchasing an additional 948 shares during the period. 95.48% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of analysts have recently issued reports on AVNT shares. Wells Fargo & Company dropped their price objective on shares of Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Finally, Seaport Res Ptn upgraded shares of Avient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $54.00.

Avient Stock Down 1.7 %

Shares of NYSE:AVNT traded down $0.73 during midday trading on Friday, reaching $41.87. The company had a trading volume of 1,134,534 shares, compared to its average volume of 604,474. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42. The stock's fifty day moving average price is $41.94 and its 200-day moving average price is $46.12. The stock has a market capitalization of $3.83 billion, a P/E ratio of 22.88, a PEG ratio of 1.25 and a beta of 1.43. Avient Co. has a one year low of $37.63 and a one year high of $54.68.

Avient (NYSE:AVNT - Get Free Report) last released 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 net margin of 5.23% and a return on equity of 10.44%. Equities research analysts expect that Avient Co. will post 2.85 earnings per share for the current fiscal year.

Avient Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Tuesday, March 18th. Avient's dividend payout ratio (DPR) is 59.02%.

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.