Avient Co. (NYSE:AVNT) Declares $0.27 Quarterly Dividend

Avient Co. (NYSE:AVNT) declared a quarterly dividend on Monday, February 10th,RTT News reports. Shareholders of record on Tuesday, March 18th will be paid a dividend of 0.27 per share on Friday, April 4th. This represents a $1.08 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Tuesday, March 18th.

Avient has raised its dividend by an average of 6.0% annually over the last three years. Avient has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Avient to earn $2.87 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 37.6%.

Avient Stock Performance

Shares of AVNT stock opened at $42.25 on Wednesday. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.08 and a beta of 1.51. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. The business’s 50-day moving average price is $42.93 and its 200-day moving average price is $46.39. Avient has a 12 month low of $35.86 and a 12 month high of $54.68.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVNT. Wells Fargo & Company boosted their target price on shares of 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 shares of Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

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.