Avient Co. (NYSE:AVNT – Get Rating) – Equities research analysts at Oppenheimer raised their FY2022 earnings per share (EPS) estimates for Avient in a report issued on Tuesday, July 26th. Oppenheimer analyst K. Owen now forecasts that the company will post earnings per share of $3.49 for the year, up from their previous forecast of $3.48. The consensus estimate for Avient’s current full-year earnings is $3.50 per share. Oppenheimer also issued estimates for Avient’s FY2023 earnings at $3.91 EPS.
Avient (NYSE:AVNT – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. Avient had a return on equity of 16.57% and a net margin of 5.01%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the company earned $0.87 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis.
Avient Price Performance
Shares of NYSE:AVNT opened at $43.15 on Friday. Avient has a 1-year low of $37.09 and a 1-year high of $61.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.29 and a quick ratio of 0.93. The business has a fifty day moving average price of $43.79 and a 200-day moving average price of $47.92. The company has a market capitalization of $3.95 billion, a PE ratio of 15.86, a PEG ratio of 0.79 and a beta of 1.50.
Avient Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 16th will be paid a dividend of $0.237 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 2.20%. Avient’s dividend payout ratio is currently 34.93%.
Institutional Investors Weigh In On Avient
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Avient by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 9,802,120 shares of the company’s stock valued at $470,502,000 after buying an additional 583,179 shares in the last quarter. Marquard & Bahls AG lifted its position in shares of Avient by 26.8% during the 1st quarter. Marquard & Bahls AG now owns 4,144,633 shares of the company’s stock valued at $198,942,000 after buying an additional 875,904 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Avient by 0.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,711,002 shares of the company’s stock valued at $148,736,000 after buying an additional 32,653 shares in the last quarter. State Street Corp lifted its position in shares of Avient by 4.3% during the 1st quarter. State Street Corp now owns 3,478,276 shares of the company’s stock valued at $167,739,000 after buying an additional 142,503 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Avient by 5.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,938,736 shares of the company’s stock valued at $141,060,000 after buying an additional 147,075 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors.
Avient Company Profile
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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