Avient (NYSE:AVNT) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Avient (NYSE:AVNT) posted its quarterly earnings data on Wednesday. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01, Zacks reports. Avient had a net margin of 3.65% and a return on equity of 10.57%. The company had revenue of $806.50 million during the quarter, compared to analyst estimates of $823.57 million. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Avient updated its FY 2025 guidance to 2.770-2.870 EPS.

Avient Price Performance

Shares of AVNT stock traded down $0.24 during trading on Friday, hitting $29.93. The company had a trading volume of 75,608 shares, compared to its average volume of 647,262. The stock’s 50-day moving average price is $33.58 and its 200 day moving average price is $34.41. Avient has a one year low of $27.86 and a one year high of $53.61. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.50 and a current ratio of 2.03. The firm has a market capitalization of $2.74 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.48.

Avient Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Friday, December 12th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, December 12th. This is a boost from Avient’s previous quarterly dividend of $0.27. Avient’s dividend payout ratio (DPR) is currently 89.43%.

Analyst Ratings Changes

AVNT has been the topic of several recent research reports. KeyCorp started coverage on shares of Avient in a research report on Wednesday, September 17th. They set an “overweight” rating and a $48.00 price objective on the stock. Oppenheimer restated an “outperform” rating and set a $37.00 price target on shares of Avient in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Avient in a report on Wednesday, October 8th. Finally, Robert W. Baird reduced their price target on Avient from $43.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Avient currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Sei Investments Co. increased its position in Avient by 8.9% in the 2nd quarter. Sei Investments Co. now owns 188,590 shares of the company’s stock valued at $6,093,000 after acquiring an additional 15,450 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of Avient by 89.9% in the second quarter. Qube Research & Technologies Ltd now owns 363,149 shares of the company’s stock worth $11,733,000 after purchasing an additional 171,936 shares during the last quarter. California Public Employees Retirement System increased its holdings in Avient by 5.3% in the second quarter. California Public Employees Retirement System now owns 152,709 shares of the company’s stock valued at $4,934,000 after purchasing an additional 7,744 shares during the period. Cerity Partners LLC raised its position in Avient by 19.8% during the 2nd quarter. Cerity Partners LLC now owns 28,249 shares of the company’s stock worth $913,000 after purchasing an additional 4,678 shares during the last quarter. Finally, Gabelli Funds LLC bought a new stake in Avient in the second quarter worth approximately $457,000. Institutional investors own 95.48% of the company’s stock.

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.