Mirae Asset Global Investments Co. Ltd. Has $1.71 Million Holdings in Avient Co. (NYSE:AVNT)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Avient Co. (NYSE:AVNT) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 41,125 shares of the company’s stock after purchasing an additional 864 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Avient were worth $1,710,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVNT. Raymond James & Associates increased its position in Avient by 22.7% during the 1st quarter. Raymond James & Associates now owns 29,947 shares of the company’s stock valued at $1,437,000 after purchasing an additional 5,546 shares during the period. American Century Companies Inc. increased its position in Avient by 2.2% during the 1st quarter. American Century Companies Inc. now owns 10,341 shares of the company’s stock valued at $496,000 after purchasing an additional 221 shares during the period. US Bancorp DE increased its position in Avient by 3.5% during the 1st quarter. US Bancorp DE now owns 8,862 shares of the company’s stock valued at $425,000 after purchasing an additional 297 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Avient during the 1st quarter valued at approximately $110,000. Finally, Bank of Montreal Can increased its position in Avient by 9.4% during the 1st quarter. Bank of Montreal Can now owns 15,146 shares of the company’s stock valued at $748,000 after purchasing an additional 1,296 shares during the period. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Stock Performance

Shares of AVNT stock opened at $42.52 on Friday. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 51.23, a price-to-earnings-growth ratio of 0.94 and a beta of 1.53. Avient Co. has a 52 week low of $27.73 and a 52 week high of $43.97. The company has a quick ratio of 1.37, a current ratio of 1.82 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $41.02 and a 200-day moving average of $37.62.

Avient (NYSE:AVNT) last issued its earnings results on Wednesday, February 14th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Avient had a return on equity of 9.26% and a net margin of 2.41%. The company had revenue of $719.00 million for the quarter, compared to analysts’ expectations of $711.87 million. During the same period last year, the business earned $0.39 EPS. Avient’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, equities analysts forecast that Avient Co. will post 2.53 earnings per share for the current year.

Avient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Tuesday, March 19th were issued a $0.257 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Monday, March 18th. Avient’s dividend payout ratio is currently 124.10%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AVNT shares. Wells Fargo & Company raised their price objective on shares of Avient from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Oppenheimer raised their price objective on shares of Avient from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday.

Avient Profile

Avient Corporation operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in two segments, Color, Additives and Inks; and Specialty Engineered Materials. The Color, Additives and Inks segment offers custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, and specialty inks; custom-formulated liquid system, such as polyester, vinyl, natural rubber and latex, polyurethane, and silicone; and proprietary inks.