Avient Co. (NYSE:AVNT) Position Raised by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Avient Co. (NYSE:AVNTFree Report) by 11.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,724,336 shares of the company’s stock after buying an additional 381,610 shares during the quarter. Franklin Resources Inc. owned approximately 4.09% of Avient worth $154,821,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AVNT. Raymond James & Associates increased its holdings in shares of Avient by 5.6% during the third quarter. Raymond James & Associates now owns 49,299 shares of the company’s stock valued at $1,741,000 after purchasing an additional 2,594 shares during the period. Teacher Retirement System of Texas grew its holdings in Avient by 24.8% during the third quarter. Teacher Retirement System of Texas now owns 27,815 shares of the company’s stock worth $982,000 after acquiring an additional 5,531 shares during the period. Principal Financial Group Inc. grew its holdings in Avient by 5.4% during the third quarter. Principal Financial Group Inc. now owns 342,151 shares of the company’s stock worth $12,085,000 after acquiring an additional 17,467 shares during the period. NBC Securities Inc. acquired a new position in Avient during the third quarter worth about $136,000. Finally, Victory Capital Management Inc. grew its holdings in Avient by 20.4% during the third quarter. Victory Capital Management Inc. now owns 637,672 shares of the company’s stock worth $22,523,000 after acquiring an additional 108,090 shares during the period. 95.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on AVNT shares. Wells Fargo & Company raised their price objective on Avient from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Stifel Nicolaus lifted their price target on Avient from $49.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Oppenheimer lifted their price target on Avient from $45.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.20.

Check Out Our Latest Report on Avient

Avient Price Performance

Avient stock opened at $44.76 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42 and a current ratio of 1.90. The firm has a market cap of $4.08 billion, a P/E ratio of 38.92, a P/E/G ratio of 0.98 and a beta of 1.53. The business’s fifty day moving average is $43.19 and its two-hundred day moving average is $39.53. Avient Co. has a 52 week low of $27.73 and a 52 week high of $47.87.

Avient (NYSE:AVNTGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. Avient had a return on equity of 9.79% and a net margin of 3.37%. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $818.45 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Avient Co. will post 2.61 earnings per share for the current fiscal year.

Avient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 21st will be issued a $0.257 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $1.03 dividend on an annualized basis and a yield of 2.30%. Avient’s dividend payout ratio is presently 89.57%.

Avient Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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