Avient Co. (NYSE:AVNT) Stock Position Lifted by Strs Ohio

Strs Ohio grew its holdings in Avient Co. (NYSE:AVNT) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,700 shares of the company’s stock after acquiring an additional 900 shares during the period. Strs Ohio’s holdings in Avient were worth $7,802,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AVNT. Fifth Third Bancorp boosted its stake in shares of Avient by 42.8% in the 4th quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock valued at $42,000 after purchasing an additional 300 shares during the last quarter. Belpointe Asset Management LLC grew its stake in shares of Avient by 248.2% in the first quarter. Belpointe Asset Management LLC now owns 1,062 shares of the company’s stock valued at $44,000 after buying an additional 757 shares in the last quarter. Ronald Blue Trust Inc. grew its stake in shares of Avient by 139.5% in the third quarter. Ronald Blue Trust Inc. now owns 1,152 shares of the company’s stock valued at $41,000 after buying an additional 671 shares in the last quarter. Covestor Ltd boosted its position in Avient by 123.1% during the first quarter. Covestor Ltd now owns 1,187 shares of the company’s stock worth $57,000 after purchasing an additional 655 shares during the period. Finally, State of Wyoming boosted its position in Avient by 40.1% during the second quarter. State of Wyoming now owns 1,821 shares of the company’s stock worth $74,000 after purchasing an additional 521 shares during the period. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their target price on Avient from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th.

Avient Trading Up 0.8 %

NYSE AVNT opened at $42.14 on Thursday. The firm has a market capitalization of $3.84 billion, a P/E ratio of 50.77, a PEG ratio of 0.92 and a beta of 1.53. The company has a current ratio of 1.82, a quick ratio of 1.37 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $40.80 and a 200 day simple moving average of $37.51. Avient Co. has a 12 month low of $27.73 and a 12 month high of $43.97.

Avient (NYSE:AVNT) last posted its earnings results on Wednesday, February 14th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $719.00 million during the quarter, compared to analyst estimates of $711.87 million. Avient had a return on equity of 9.26% and a net margin of 2.41%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, analysts predict that Avient Co. will post 2.53 EPS for the current fiscal year.

Avient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Tuesday, March 19th were given a $0.257 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $1.03 annualized dividend and a yield of 2.44%. Avient’s payout ratio is currently 124.10%.

Avient 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.