Aristides Capital LLC Makes New $251,000 Investment in Avient Co. (NYSE:AVNT)

Aristides Capital LLC acquired a new position in Avient Co. (NYSE:AVNT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,761 shares of the company’s stock, valued at approximately $251,000.

Several other large investors have also added to or reduced their stakes in AVNT. Headlands Technologies LLC acquired a new stake in shares of Avient in the first quarter valued at about $35,000. GAMMA Investing LLC raised its stake in shares of Avient by 88.6% during the 2nd quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock worth $35,000 after purchasing an additional 381 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Avient in the 2nd quarter valued at approximately $59,000. Innealta Capital LLC acquired a new stake in shares of Avient in the 2nd quarter valued at approximately $119,000. Finally, Lazard Asset Management LLC acquired a new position in Avient during the first quarter worth $133,000. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Price Performance

Shares of AVNT opened at $50.33 on Tuesday. The company’s 50-day moving average is $46.58 and its 200-day moving average is $44.60. 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 $4.59 billion, a PE ratio of 43.77, a PEG ratio of 1.21 and a beta of 1.47. Avient Co. has a fifty-two week low of $27.73 and a fifty-two week high of $51.51.

Avient (NYSE:AVNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $841.40 million. During the same period last year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities analysts forecast that Avient Co. will post 2.65 EPS for the current year.

Avient Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 13th will be given a dividend of $0.2575 per share. This is a boost from Avient’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, September 13th. This represents a $1.03 annualized dividend and a yield of 2.05%. Avient’s dividend payout ratio (DPR) is presently 89.57%.

Analyst Ratings Changes

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

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.