Avient Co. (NYSE:AVNT – Get Rating) – Equities research analysts at Seaport Res Ptn dropped their Q1 2022 earnings per share (EPS) estimates for Avient in a research note issued on Wednesday, April 20th. Seaport Res Ptn analyst M. Harrison now expects that the company will earn $0.94 per share for the quarter, down from their previous estimate of $0.95. Seaport Res Ptn also issued estimates for Avient’s Q2 2022 earnings at $0.99 EPS, FY2022 earnings at $3.52 EPS, Q1 2023 earnings at $1.07 EPS, Q2 2023 earnings at $1.16 EPS, Q4 2023 earnings at $0.91 EPS and FY2023 earnings at $4.12 EPS.
AVNT has been the subject of a number of other research reports. Zacks Investment Research raised Avient from a “sell” rating to a “hold” rating in a report on Thursday, February 3rd. Morgan Stanley lifted their price target on Avient from $57.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 11th. Citigroup boosted their target price on shares of Avient from $63.00 to $68.00 in a research note on Tuesday, January 11th. Finally, Wells Fargo & Company boosted their target price on shares of Avient from $60.00 to $65.00 in a research note on Thursday.
Avient (NYSE:AVNT – Get Rating) last posted its quarterly earnings data on Tuesday, April 19th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Avient had a net margin of 4.79% and a return on equity of 15.85%.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Tuesday, March 15th were issued a dividend of $0.237 per share. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Monday, March 14th. Avient’s payout ratio is currently 38.15%.
Several large investors have recently modified their holdings of the company. New York State Common Retirement Fund boosted its holdings in Avient by 52.9% in the 3rd quarter. New York State Common Retirement Fund now owns 1,091,164 shares of the company’s stock worth $50,575,000 after acquiring an additional 377,401 shares during the period. AGF Investments Inc. purchased a new position in Avient in the 4th quarter worth approximately $9,202,000. Invesco Ltd. boosted its holdings in Avient by 31.1% in the 3rd quarter. Invesco Ltd. now owns 437,225 shares of the company’s stock worth $20,266,000 after acquiring an additional 103,708 shares during the period. Millennium Management LLC boosted its holdings in Avient by 20.6% in the 3rd quarter. Millennium Management LLC now owns 57,958 shares of the company’s stock worth $2,686,000 after acquiring an additional 9,917 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Avient by 43.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,558 shares of the company’s stock valued at $759,000 after purchasing an additional 4,115 shares in the last quarter. Institutional investors and hedge funds own 94.51% of the company’s stock.
Avient Company Profile (Get Rating)
Avient Corporation provides specialized formulator, services, and sustainable material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates through three segments: Color, Additives and Inks; Specialty Engineered Materials; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks.
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