Algert Global LLC Takes $445,000 Position in Avient Co. (NYSE:AVNT)

Algert Global LLC purchased a new stake in shares of Avient Co. (NYSE:AVNT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,206 shares of the company’s stock, valued at approximately $445,000.

Several other large investors also recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in Avient during the first quarter valued at approximately $35,000. GAMMA Investing LLC lifted its stake in Avient by 88.6% in the 2nd quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock valued at $35,000 after acquiring an additional 381 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Avient during the 2nd quarter worth approximately $59,000. Innealta Capital LLC acquired a new stake in shares of Avient in the second quarter valued at approximately $119,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Avient in the first quarter worth $133,000. Institutional investors own 95.48% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Avient Trading Down 0.5 %

AVNT stock opened at $48.87 on Tuesday. Avient Co. has a 52 week low of $27.73 and a 52 week high of $51.51. The company has a market capitalization of $4.46 billion, a PE ratio of 42.50, a price-to-earnings-growth ratio of 1.21 and a beta of 1.47. The company’s 50-day simple moving average is $46.98 and its 200 day simple moving average is $44.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 0.97.

Avient (NYSE:AVNT) last announced its earnings results on Tuesday, August 6th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. The company had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $841.40 million. Avient had a net margin of 3.70% and a return on equity of 10.34%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. As a group, sell-side analysts anticipate that Avient Co. will post 2.65 earnings per share for the current year.

Avient Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 13th will be given a $0.2575 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Avient’s previous quarterly dividend of $0.26. Avient’s dividend payout ratio (DPR) is presently 89.57%.

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.