Rhumbline Advisers Purchases 3,451 Shares of Avient Co. (NYSE:AVNT)

Rhumbline Advisers lifted its position in shares of Avient Co. (NYSE:AVNT) by 1.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 321,802 shares of the company’s stock after acquiring an additional 3,451 shares during the quarter. Rhumbline Advisers owned approximately 0.35% of Avient worth $13,149,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in Avient by 58.7% in the 3rd quarter. Signaturefd LLC now owns 865 shares of the company’s stock worth $44,000 after purchasing an additional 320 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Avient by 44.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock worth $50,000 after purchasing an additional 310 shares during the period. Point72 DIFC Ltd bought a new position in Avient in the 3rd quarter worth about $60,000. Covestor Ltd raised its holdings in shares of Avient by 185.5% in the 3rd quarter. Covestor Ltd now owns 1,459 shares of the company’s stock valued at $73,000 after acquiring an additional 948 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Avient by 21.5% in the 3rd quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $82,000 after acquiring an additional 290 shares in the last quarter. Institutional investors own 95.48% of the company’s stock.

Avient Stock Performance

Shares of NYSE AVNT opened at $43.45 on Friday. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 1.26 and a beta of 1.51. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. Avient Co. has a 1-year low of $37.63 and a 1-year high of $54.68. The stock’s 50-day moving average is $41.97 and its 200 day moving average is $46.33.

Avient (NYSE:AVNT) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Avient had a return on equity of 10.44% and a net margin of 5.23%. On average, sell-side analysts anticipate that Avient Co. will post 2.85 EPS for the current fiscal year.

Avient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be paid a $0.27 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 dividend on an annualized basis and a yield of 2.49%. Avient’s dividend payout ratio (DPR) is currently 59.02%.

Analysts Set New Price Targets

Several research firms have weighed in on AVNT. Wells Fargo & Company lowered their price target on Avient from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Seaport Res Ptn raised Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Avient from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, February 14th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Avient currently has an average rating of “Buy” and a consensus price target of $54.00.

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.