Arcadia Investment Management Corp MI Lowers Stock Holdings in Avient Co. (NYSE:AVNT)

Arcadia Investment Management Corp MI trimmed its position in Avient Co. (NYSE:AVNT) by 6.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,105 shares of the company’s stock after selling 505 shares during the period. Arcadia Investment Management Corp MI’s holdings in Avient were worth $290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Westfield Capital Management Co. LP lifted its holdings in shares of Avient by 4.3% in the third quarter. Westfield Capital Management Co. LP now owns 1,522,656 shares of the company’s stock worth $76,620,000 after buying an additional 63,138 shares in the last quarter. FMR LLC lifted its holdings in shares of Avient by 288.0% in the third quarter. FMR LLC now owns 26,138 shares of the company’s stock worth $1,315,000 after buying an additional 19,401 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Avient by 22.4% in the third quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company’s stock worth $30,626,000 after buying an additional 111,489 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Avient by 48.5% in the third quarter. Cerity Partners LLC now owns 30,868 shares of the company’s stock worth $1,553,000 after buying an additional 10,088 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Avient by 58.7% in the third quarter. Signaturefd LLC now owns 865 shares of the company’s stock worth $44,000 after buying an additional 320 shares in the last quarter. 95.48% of the stock is owned by hedge funds and other institutional investors.

Avient Trading Up 0.2 %

Shares of AVNT opened at $43.98 on Friday. The firm’s 50 day simple moving average is $42.05 and its 200 day simple moving average is $46.31. The company has a market capitalization of $4.02 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.26 and a beta of 1.51. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42. Avient Co. has a 1-year low of $37.63 and a 1-year high of $54.68.

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

Avient Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Tuesday, March 18th. Avient’s payout ratio is currently 59.02%.

Wall Street Analysts Forecast Growth

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