Verition Fund Management LLC Sells 2,122 Shares of Avient Co. (NYSE:AVNT)

Verition Fund Management LLC reduced its stake in shares of Avient Co. (NYSE:AVNTGet Rating) by 6.3% in the 1st quarter, Holdings Channel reports. The firm owned 31,469 shares of the company’s stock after selling 2,122 shares during the quarter. Verition Fund Management LLC’s holdings in Avient were worth $1,511,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Marshall Wace LLP bought a new position in shares of Avient in the 4th quarter worth about $67,816,000. Marquard & Bahls AG raised its position in shares of Avient by 26.8% in the 1st quarter. Marquard & Bahls AG now owns 4,144,633 shares of the company’s stock worth $198,942,000 after acquiring an additional 875,904 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Avient by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 9,802,120 shares of the company’s stock worth $470,502,000 after acquiring an additional 583,179 shares in the last quarter. Millennium Management LLC raised its position in shares of Avient by 877.9% in the 4th quarter. Millennium Management LLC now owns 566,797 shares of the company’s stock worth $31,712,000 after acquiring an additional 508,839 shares in the last quarter. Finally, State Street Corp raised its position in shares of Avient by 11.8% in the 4th quarter. State Street Corp now owns 3,335,773 shares of the company’s stock worth $187,349,000 after acquiring an additional 352,512 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Avient Price Performance

Shares of AVNT opened at $37.88 on Tuesday. Avient Co. has a 12-month low of $35.67 and a 12-month high of $61.46. The business’s fifty day moving average is $43.26 and its 200 day moving average is $45.72. 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 stock has a market cap of $3.44 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.77 and a beta of 1.44.

Avient (NYSE:AVNTGet Rating) last issued its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Avient had a return on equity of 16.57% and a net margin of 5.01%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the business earned $0.87 EPS. Avient’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Avient Co. will post 3.19 earnings per share for the current fiscal year.

Avient Dividend Announcement

The business 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. This represents a $0.95 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, September 15th. Avient’s dividend payout ratio (DPR) is presently 34.93%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Avient from $65.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Jefferies Financial Group dropped their price target on Avient from $67.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, June 28th. Finally, Stifel Nicolaus reduced their price objective on Avient from $76.00 to $70.00 in a research note on Wednesday, July 27th.

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.

See Also

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Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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