85,000 Shares in Avient Co. (NYSE:AVNT) Bought by Walnut Level Capital LLC

Walnut Level Capital LLC bought a new stake in Avient Co. (NYSE:AVNT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 85,000 shares of the company's stock, valued at approximately $3,473,000. Avient makes up approximately 1.3% of Walnut Level Capital LLC's investment portfolio, making the stock its 17th biggest holding. Walnut Level Capital LLC owned approximately 0.09% of Avient at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its position in Avient by 5.1% during the third quarter. Natixis Advisors LLC now owns 53,615 shares of the company's stock worth $2,698,000 after acquiring an additional 2,581 shares during the period. Pathstone Holdings LLC grew its stake in Avient by 2.9% during the third quarter. Pathstone Holdings LLC now owns 46,675 shares of the company's stock worth $2,350,000 after buying an additional 1,300 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Avient by 3.8% during the third quarter. PNC Financial Services Group Inc. now owns 22,061 shares of the company's stock worth $1,110,000 after buying an additional 798 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Avient by 54.0% in the third quarter. Intech Investment Management LLC now owns 28,493 shares of the company's stock valued at $1,434,000 after acquiring an additional 9,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Avient by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,243,128 shares of the company's stock worth $62,554,000 after acquiring an additional 9,893 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have issued reports on AVNT shares. Baird R W upgraded Avient to a "hold" rating in a research 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. Wells Fargo & Company cut their price objective on shares of Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft raised their price target on Avient from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, Robert W. Baird initiated coverage on Avient in a report on Friday, March 14th. They issued a "neutral" rating and a $43.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.80.

Avient Stock Down 2.4 %

AVNT traded down $0.94 during trading on Friday, hitting $37.40. The company had a trading volume of 93,921 shares, compared to its average volume of 489,723. The company has a market capitalization of $3.42 billion, a PE ratio of 20.45, a PEG ratio of 1.25 and a beta of 1.43. The firm's 50-day moving average price is $41.90 and its 200 day moving average price is $45.36. Avient Co. has a one year low of $37.19 and a one year high of $54.68. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88.

Avient (NYSE:AVNT - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. As a group, equities analysts expect that Avient Co. will post 2.85 earnings per share for the current year.

Avient Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 annualized dividend and a dividend yield of 2.89%. Avient's dividend payout ratio is presently 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.