Avient Co. (NYSE:AVNT - Get Free Report) SVP Joel R. Rathbun sold 5,762 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total value of $296,454.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
AVNT traded down $0.30 on Tuesday, hitting $51.81. 19,263 shares of the stock traded hands, compared to its average volume of 461,153. Avient Co. has a 52 week low of $31.45 and a 52 week high of $54.68. The firm has a market capitalization of $4.73 billion, a PE ratio of 32.17, a P/E/G ratio of 1.32 and a beta of 1.48. The business has a fifty day moving average price of $48.50 and a two-hundred day moving average price of $46.04. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87.
Avient (NYSE:AVNT - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Avient had a return on equity of 10.56% and a net margin of 4.66%. The firm had revenue of $815.20 million for the quarter, compared to the consensus estimate of $797.50 million. During the same quarter in the prior year, the business earned $0.57 EPS. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts predict that Avient Co. will post 2.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, December 13th. This is a boost from Avient's previous quarterly dividend of $0.26. Avient's dividend payout ratio is 66.67%.
AVNT has been the subject of several analyst reports. Oppenheimer upped their target price on Avient from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Seaport Res Ptn cut Avient from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. 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 research report on Wednesday, August 7th. Finally, Wells Fargo & Company increased their price objective on Avient from $52.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.50.
Check Out Our Latest Report on Avient
A number of large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Avient by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,057,356 shares of the company's stock worth $204,166,000 after purchasing an additional 65,452 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Avient by 3.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,936,318 shares of the company's stock worth $171,818,000 after purchasing an additional 149,283 shares during the period. Jennison Associates LLC lifted its holdings in shares of Avient by 1.1% during the third quarter. Jennison Associates LLC now owns 1,696,565 shares of the company's stock worth $85,371,000 after purchasing an additional 17,976 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Avient by 28.8% during the first quarter. Lord Abbett & CO. LLC now owns 1,470,349 shares of the company's stock worth $63,813,000 after purchasing an additional 328,773 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in Avient by 13.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,359,671 shares of the company's stock valued at $59,010,000 after buying an additional 158,163 shares during the period. 95.48% of the stock is currently owned by institutional investors and hedge funds.
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.
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