Avient (NYSE:AVNT) Stock Price Down 5.1% – Here’s Why

Avient Co. (NYSE:AVNT)’s stock price was down 5.1% during trading on Friday . The stock traded as low as $37.78 and last traded at $37.61. Approximately 348,821 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 597,235 shares. The stock had previously closed at $39.65.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company decreased their target price on shares of Avient from $59.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Baird R W raised shares of Avient to a “hold” rating in a research note on Friday, March 14th. Robert W. Baird began coverage on shares of Avient in a research note on Friday, March 14th. They set a “neutral” rating and a $43.00 target price for the company. Finally, Seaport Res Ptn raised shares of Avient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.80.

Avient Stock Performance

The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.42 and a current ratio of 1.88. The firm’s 50 day moving average is $42.02 and its 200-day moving average is $45.55. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.25 and a beta of 1.43.

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

Avient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Tuesday, March 18th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, March 18th. Avient’s payout ratio is presently 59.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Choreo LLC lifted its position in Avient by 4.3% during the 4th quarter. Choreo LLC now owns 5,812 shares of the company’s stock worth $237,000 after acquiring an additional 238 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Avient by 4.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company’s stock worth $270,000 after acquiring an additional 256 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Avient by 4.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company’s stock worth $227,000 after acquiring an additional 258 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Avient by 44.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock worth $50,000 after acquiring an additional 310 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

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.