Mitsubishi UFJ Trust & Banking Corp Has $31,000 Holdings in Avient Co. (NYSE:AVNT)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Avient Co. (NYSE:AVNTGet Rating) by 66.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 774 shares of the company’s stock after selling 1,526 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Avient were worth $31,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in Avient during the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC purchased a new position in Avient during the second quarter valued at approximately $25,000. Lazard Asset Management LLC grew its position in Avient by 104.2% during the second quarter. Lazard Asset Management LLC now owns 686 shares of the company’s stock valued at $27,000 after purchasing an additional 350 shares in the last quarter. First Horizon Advisors Inc. grew its position in Avient by 565.9% during the second quarter. First Horizon Advisors Inc. now owns 1,172 shares of the company’s stock valued at $46,000 after purchasing an additional 996 shares in the last quarter. Finally, Covestor Ltd grew its position in Avient by 123.1% during the first quarter. Covestor Ltd now owns 1,187 shares of the company’s stock valued at $57,000 after purchasing an additional 655 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Avient Stock Up 1.8 %

AVNT opened at $33.90 on Friday. The firm’s 50-day simple moving average is $32.57 and its 200-day simple moving average is $40.19. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.99 and a current ratio of 1.28. Avient Co. has a twelve month low of $27.65 and a twelve month high of $60.10. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 16.62 and a beta of 1.54.

Avient (NYSE:AVNTGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). Avient had a return on equity of 16.11% and a net margin of 4.08%. The company had revenue of $823.30 million for the quarter, compared to the consensus estimate of $850.82 million. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Equities research analysts anticipate that Avient Co. will post 2.92 EPS for the current fiscal year.

Avient Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 16th will be issued a dividend of $0.2475 per share. The ex-dividend date is Thursday, December 15th. This represents a $0.99 dividend on an annualized basis and a yield of 2.92%. This is a positive change from Avient’s previous quarterly dividend of $0.24. Avient’s dividend payout ratio is currently 46.57%.

Analyst Ratings Changes

A number of research analysts recently commented on AVNT shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Avient from $40.00 to $35.00 in a research report on Thursday, November 3rd. Robert W. Baird decreased their target price on shares of Avient from $42.00 to $35.00 in a research report on Thursday, November 3rd. Wells Fargo & Company decreased their price objective on shares of Avient from $38.00 to $33.00 in a report on Thursday, November 3rd. Morgan Stanley cut their target price on shares of Avient from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, November 7th. Finally, Citigroup dropped their price objective on shares of Avient from $50.00 to $40.00 in a research note on Tuesday, October 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.57.

Avient Company Profile

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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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Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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