Avient (NYSE:AVNT) Sets New 52-Week Low at $36.47

Avient Co. (NYSE:AVNTGet Rating)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $36.47 and last traded at $36.50, with a volume of 2558 shares changing hands. The stock had previously closed at $38.04.

Wall Street Analyst Weigh In

Several research firms have issued reports on AVNT. Jefferies Financial Group decreased their price target on shares of Avient from $67.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, June 28th. Stifel Nicolaus lowered their price target on Avient from $76.00 to $70.00 in a research note on Wednesday, July 27th. Finally, Wells Fargo & Company decreased their price objective on Avient from $65.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th.

Avient Price Performance

The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 0.76 and a beta of 1.44. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average is $43.29 and its 200-day moving average is $45.85.

Avient (NYSE:AVNTGet Rating) last posted its earnings results on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. Avient had a return on equity of 16.57% and a net margin of 5.01%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company earned $0.87 EPS. Avient’s revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that Avient Co. will post 3.34 earnings per share for the current fiscal year.

Avient Announces Dividend

The company also recently disclosed 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 is Thursday, September 15th. This represents a $0.95 annualized dividend and a yield of 2.58%. Avient’s dividend payout ratio is 34.93%.

Institutional Investors Weigh In On Avient

A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. increased its position in Avient by 2.2% in the 1st quarter. American Century Companies Inc. now owns 10,341 shares of the company’s stock valued at $496,000 after acquiring an additional 221 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Avient by 2.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 8,410 shares of the company’s stock worth $404,000 after purchasing an additional 230 shares during the last quarter. Shaker Investments LLC OH lifted its holdings in Avient by 0.6% during the 1st quarter. Shaker Investments LLC OH now owns 42,135 shares of the company’s stock worth $2,022,000 after buying an additional 251 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Avient by 2.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 13,135 shares of the company’s stock valued at $526,000 after buying an additional 290 shares during the last quarter. Finally, Sheets Smith Investment Management increased its stake in shares of Avient by 1.2% in the 1st quarter. Sheets Smith Investment Management now owns 25,042 shares of the company’s stock valued at $1,202,000 after buying an additional 293 shares during the period. 95.49% of the stock is currently owned by institutional investors.

About Avient

(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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