Cwm LLC Has $82,000 Holdings in Avient Co. (NYSE:AVNT)

Cwm LLC lifted its stake in shares of Avient Co. (NYSE:AVNT) by 21.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,637 shares of the company’s stock after buying an additional 290 shares during the period. Cwm LLC’s holdings in Avient were worth $82,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Diversified Trust Co acquired a new stake in Avient in the third quarter valued at $565,000. GAMMA Investing LLC increased its holdings in Avient by 35.4% in the third quarter. GAMMA Investing LLC now owns 1,098 shares of the company’s stock valued at $55,000 after purchasing an additional 287 shares during the period. Handelsbanken Fonder AB increased its holdings in Avient by 27.5% in the third quarter. Handelsbanken Fonder AB now owns 20,881 shares of the company’s stock valued at $1,051,000 after purchasing an additional 4,500 shares during the period. SG Americas Securities LLC increased its holdings in Avient by 152.7% in the third quarter. SG Americas Securities LLC now owns 16,832 shares of the company’s stock valued at $847,000 after purchasing an additional 10,172 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in Avient by 140.2% in the second quarter. Cubist Systematic Strategies LLC now owns 56,333 shares of the company’s stock valued at $2,459,000 after purchasing an additional 32,882 shares during the period. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVNT has been the subject of a number of recent analyst reports. Seaport Res Ptn downgraded Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target on Avient from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Oppenheimer increased their price target on Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Avient from a “hold” rating to a “buy” rating and increased their price target for the stock from $49.00 to $52.00 in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.50.

Avient Stock Performance

Avient stock opened at $48.01 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $4.38 billion, a PE ratio of 37.80, a P/E/G ratio of 1.21 and a beta of 1.47. The firm has a fifty day simple moving average of $48.23 and a two-hundred day simple moving average of $45.50. Avient Co. has a twelve month low of $27.73 and a twelve month high of $51.51.

Avient (NYSE:AVNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. Avient had a net margin of 3.70% and a return on equity of 10.34%. The company had revenue of $850.00 million during the quarter, compared to the consensus estimate of $841.40 million. During the same period in the prior year, the firm earned $0.63 earnings per share. Avient’s revenue was up 3.1% on a year-over-year basis. Research analysts expect that Avient Co. will post 2.64 EPS for the current year.

Avient Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 13th will be issued a $0.27 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.08 annualized dividend and a yield of 2.25%. This is a boost from Avient’s previous quarterly dividend of $0.26. Avient’s dividend payout ratio (DPR) is currently 81.10%.

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.