Sherbrooke Park Advisers LLC Has $391,000 Stock Position in Avient Co. (NYSE:AVNT)

Sherbrooke Park Advisers LLC lifted its holdings in shares of Avient Co. (NYSE:AVNT) by 46.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,558 shares of the company’s stock after buying an additional 3,044 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Avient were worth $391,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AVNT. Barclays PLC raised its holdings in shares of Avient by 221.7% during the 3rd quarter. Barclays PLC now owns 173,002 shares of the company’s stock worth $8,706,000 after buying an additional 119,229 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Avient by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company’s stock worth $227,000 after purchasing an additional 258 shares in the last quarter. Linden Thomas Advisory Services LLC increased its holdings in Avient by 16.2% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 22,133 shares of the company’s stock worth $904,000 after purchasing an additional 3,078 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Avient in the 4th quarter worth about $225,000. Finally, KBC Group NV increased its holdings in Avient by 47.2% in the 4th quarter. KBC Group NV now owns 4,090 shares of the company’s stock worth $167,000 after purchasing an additional 1,312 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Trading Down 0.6%

NYSE AVNT opened at $37.78 on Friday. The business’s 50-day moving average price is $35.23 and its two-hundred day moving average price is $41.47. Avient Co. has a 12 month low of $27.86 and a 12 month high of $54.68. The firm has a market capitalization of $3.46 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88.

Avient (NYSE:AVNT) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. Avient had a return on equity of 10.44% and a net margin of 5.23%. The firm had revenue of $826.60 million for the quarter, compared to analyst estimates of $834.90 million. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s revenue was down .3% on a year-over-year basis. On average, analysts expect that Avient Co. will post 2.85 EPS for the current year.

Avient Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 20th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, June 20th. This represents a $1.08 annualized dividend and a dividend yield of 2.86%. Avient’s payout ratio is 100.93%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVNT. Robert W. Baird began coverage on Avient in a report on Friday, March 14th. They issued a “neutral” rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their target price on Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Seaport Res Ptn raised Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Morgan Stanley lowered their target price on Avient from $51.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Finally, Wells Fargo & Company upped their price target on Avient from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.80.

About Avient

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.