Avient Co. (NYSE:AVNT) Stake Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its holdings in shares of Avient Co. (NYSE:AVNT) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,551 shares of the company’s stock after buying an additional 258 shares during the period. Janney Montgomery Scott LLC’s holdings in Avient were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVNT. Assenagon Asset Management S.A. raised its holdings in Avient by 120.6% during the third quarter. Assenagon Asset Management S.A. now owns 784,178 shares of the company’s stock worth $39,460,000 after purchasing an additional 428,624 shares in the last quarter. State Street Corp raised its holdings in Avient by 3.0% during the third quarter. State Street Corp now owns 4,231,720 shares of the company’s stock worth $213,977,000 after purchasing an additional 121,349 shares in the last quarter. Barclays PLC raised its holdings in Avient by 221.7% during the third quarter. Barclays PLC now owns 173,002 shares of the company’s stock worth $8,706,000 after purchasing an additional 119,229 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Avient by 22.4% during the third quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company’s stock worth $30,626,000 after purchasing an additional 111,489 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Avient by 112.4% during the third quarter. Point72 Asset Management L.P. now owns 151,953 shares of the company’s stock worth $7,646,000 after purchasing an additional 80,414 shares in the last quarter. Institutional investors own 95.48% of the company’s stock.

Avient Trading Down 1.6 %

Avient stock opened at $41.63 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.63. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. Avient Co. has a 1 year low of $35.86 and a 1 year high of $54.68. The firm’s 50 day moving average price is $42.75 and its two-hundred day moving average price is $46.36.

Avient Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be given a $0.27 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 annualized dividend and a yield of 2.59%. Avient’s dividend payout ratio (DPR) is 66.67%.

Analyst Upgrades and Downgrades

AVNT has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Avient from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Seaport Res Ptn cut Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Avient presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.50.

Avient Company 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.