Avient Co. (NYSE:AVNT) Shares Acquired by EDENTREE ASSET MANAGEMENT Ltd

EDENTREE ASSET MANAGEMENT Ltd boosted its stake in Avient Co. (NYSE:AVNT) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,450 shares of the company’s stock after acquiring an additional 6,000 shares during the period. Avient accounts for 2.7% of EDENTREE ASSET MANAGEMENT Ltd’s portfolio, making the stock its 12th largest position. EDENTREE ASSET MANAGEMENT Ltd owned approximately 0.22% of Avient worth $8,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in AVNT. Vanguard Group Inc. grew its position in shares of Avient by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,368,900 shares of the company’s stock worth $431,035,000 after acquiring an additional 34,399 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Avient by 0.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,128,934 shares of the company’s stock worth $179,196,000 after purchasing an additional 36,742 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Avient by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,936,318 shares of the company’s stock worth $171,818,000 after purchasing an additional 149,283 shares during the period. Jennison Associates LLC increased its stake in Avient by 5.2% during the first quarter. Jennison Associates LLC now owns 1,662,877 shares of the company’s stock valued at $72,169,000 after purchasing an additional 82,010 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Avient by 28.8% during the first quarter. Lord Abbett & CO. LLC now owns 1,470,349 shares of the company’s stock worth $63,813,000 after purchasing an additional 328,773 shares during the period. 95.48% of the stock is currently owned by institutional investors.

Avient Price Performance

Shares of NYSE AVNT opened at $49.37 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.97 and a quick ratio of 0.73. The firm has a market capitalization of $4.51 billion, a PE ratio of 42.93, a P/E/G ratio of 1.21 and a beta of 1.47. Avient Co. has a 1-year low of $27.73 and a 1-year high of $50.00. The business’s fifty day moving average price is $46.26 and its two-hundred day moving average price is $44.39.

Avient (NYSE:AVNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. Avient had a net margin of 3.70% and a return on equity of 10.34%. The firm had revenue of $850.00 million for the quarter, compared to the consensus estimate of $841.40 million. During the same period last year, the firm posted $0.63 EPS. Avient’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, research analysts expect that Avient Co. will post 2.65 EPS for the current year.

Avient Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 13th will be issued a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 2.09%. This is a positive change from Avient’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, September 13th. Avient’s dividend payout ratio is 89.57%.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft raised shares of Avient from a “hold” rating to a “buy” rating and lifted their price target for the company from $49.00 to $52.00 in a report on Wednesday, August 7th.

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.