Wealthfront Advisers LLC acquired a new position in shares of Avient Co. (NYSE:AVNT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 41,896 shares of the company's stock, valued at approximately $1,712,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in Avient by 56.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 695 shares of the company's stock worth $28,000 after acquiring an additional 250 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Avient by 44.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company's stock valued at $50,000 after purchasing an additional 310 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Avient in the third quarter valued at $60,000. Venturi Wealth Management LLC acquired a new stake in Avient in the fourth quarter valued at $96,000. Finally, KBC Group NV grew its holdings in Avient by 47.2% in the fourth quarter. KBC Group NV now owns 4,090 shares of the company's stock valued at $167,000 after purchasing an additional 1,312 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Baird R W raised Avient to a "hold" rating in a report on Friday, March 14th. Robert W. Baird assumed coverage on Avient in a report on Friday, March 14th. They issued a "neutral" rating and a $43.00 target price on the stock. Seaport Res Ptn raised Avient from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upped their target price on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, Wells Fargo & Company lowered their target price on Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.80.
Check Out Our Latest Analysis on Avient
Avient Trading Up 0.9 %
NYSE AVNT traded up $0.35 during trading hours on Wednesday, hitting $40.54. 706,001 shares of the company's stock were exchanged, compared to its average volume of 483,671. The business's 50 day moving average is $41.97 and its 200-day moving average is $45.72. Avient Co. has a 12-month low of $37.63 and a 12-month high of $54.68. The firm has a market capitalization of $3.71 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 1.25 and a beta of 1.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.42 and a current ratio of 1.88.
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, hitting the consensus estimate of $0.49. Avient had a return on equity of 10.44% and a net margin of 5.23%. As a group, analysts anticipate that Avient Co. will post 2.85 EPS for the current fiscal year.
Avient Dividend Announcement
The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.08 annualized dividend and a yield of 2.66%. Avient's dividend payout ratio (DPR) is presently 59.02%.
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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