Avient (NYSE:AVNT) Hits New 52-Week Low – What’s Next?

Avient Co. (NYSE:AVNT) hit a new 52-week low on Thursday . The stock traded as low as $32.84 and last traded at $33.17, with a volume of 834164 shares. The stock had previously closed at $37.87.

Analyst Upgrades and Downgrades

AVNT has been the topic of a number of analyst reports. 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 report on Friday, February 14th. Wells Fargo & Company dropped their price target 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. Robert W. Baird began coverage on shares of Avient in a report on Friday, March 14th. They set a “neutral” rating and a $43.00 price target for the company. Seaport Res Ptn raised Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Baird R W upgraded Avient to a “hold” rating in a research report on Friday, March 14th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.80.

Avient Trading Down 14.2 %

The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 1.25 and a beta of 1.43. The business has a fifty day moving average of $41.46 and a two-hundred day moving average of $45.12. 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) last posted 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 return on equity of 10.44% and a net margin of 5.23%. As a group, equities analysts expect that Avient Co. will post 2.85 earnings per share for the current fiscal year.

Avient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be given a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.08 annualized dividend and a dividend yield of 3.32%. Avient’s dividend payout ratio is presently 59.02%.

Institutional Investors Weigh In On Avient

A number of large investors have recently bought and sold shares of the stock. Cerity Partners LLC raised its stake in Avient by 48.5% in the 3rd quarter. Cerity Partners LLC now owns 30,868 shares of the company’s stock valued at $1,553,000 after purchasing an additional 10,088 shares during the last quarter. FMR LLC grew its holdings in shares of Avient by 288.0% during the third quarter. FMR LLC now owns 26,138 shares of the company’s stock worth $1,315,000 after buying an additional 19,401 shares in the last quarter. Glenmede Trust Co. NA boosted its position in Avient by 40.6% during the third quarter. Glenmede Trust Co. NA now owns 8,084 shares of the company’s stock worth $407,000 after acquiring an additional 2,335 shares during the last quarter. Captrust Financial Advisors grew its stake in Avient by 20.4% in the 3rd quarter. Captrust Financial Advisors now owns 18,331 shares of the company’s stock worth $922,000 after acquiring an additional 3,111 shares during the period. Finally, Centiva Capital LP acquired a new position in Avient in the 3rd quarter valued at $253,000. Institutional investors and hedge funds own 95.48% of the company’s stock.

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.