Venturi Wealth Management LLC Acquires New Holdings in Avient Co. (NYSE:AVNT)

Venturi Wealth Management LLC bought a new position in Avient Co. (NYSE:AVNT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,350 shares of the company’s stock, valued at approximately $96,000.

A number of other large investors have also added to or reduced their stakes in AVNT. Signaturefd LLC increased its position in shares of Avient by 58.7% during the 3rd quarter. Signaturefd LLC now owns 865 shares of the company’s stock valued at $44,000 after purchasing an additional 320 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Avient by 44.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock valued at $50,000 after buying an additional 310 shares during the last quarter. Point72 DIFC Ltd bought a new position in Avient in the third quarter worth approximately $60,000. Covestor Ltd boosted its stake in shares of Avient by 185.5% during the 3rd quarter. Covestor Ltd now owns 1,459 shares of the company’s stock worth $73,000 after acquiring an additional 948 shares during the last quarter. Finally, CWM LLC grew its position in shares of Avient by 21.5% during the 3rd quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $82,000 after acquiring an additional 290 shares during the period. Institutional investors own 95.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AVNT shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company decreased their price target 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 upgraded Avient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $54.00.

Avient Trading Down 1.2 %

Shares of AVNT opened at $43.45 on Monday. Avient Co. has a fifty-two week low of $37.63 and a fifty-two week high of $54.68. 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 company’s fifty day moving average is $41.97 and its 200 day moving average is $46.36. The stock has a market capitalization of $3.97 billion, a PE ratio of 23.74, a P/E/G ratio of 1.26 and a beta of 1.51.

Avient (NYSE:AVNT) last announced 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 expect that Avient Co. will post 2.85 earnings per share for the current fiscal year.

Avient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Tuesday, March 18th. Avient’s dividend payout ratio is currently 59.02%.

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.