Orion Portfolio Solutions LLC Sells 2,707 Shares of Avient Co. (NYSE:AVNT)

Orion Portfolio Solutions LLC lessened its stake in Avient Co. (NYSE:AVNTFree Report) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,319 shares of the company’s stock after selling 2,707 shares during the period. Orion Portfolio Solutions LLC’s holdings in Avient were worth $668,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AVNT. Norges Bank bought a new stake in Avient in the 4th quarter worth approximately $40,628,000. Dimensional Fund Advisors LP grew its position in shares of Avient by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,438,391 shares of the company’s stock valued at $142,937,000 after acquiring an additional 384,452 shares during the period. Franklin Resources Inc. grew its position in shares of Avient by 11.4% during the 4th quarter. Franklin Resources Inc. now owns 3,724,336 shares of the company’s stock valued at $154,821,000 after acquiring an additional 381,610 shares during the period. American Century Companies Inc. grew its position in shares of Avient by 14.1% during the 3rd quarter. American Century Companies Inc. now owns 1,819,796 shares of the company’s stock valued at $64,275,000 after acquiring an additional 224,810 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Avient by 15.8% during the 4th quarter. Jennison Associates LLC now owns 1,580,867 shares of the company’s stock valued at $65,717,000 after acquiring an additional 215,709 shares during the period. Institutional investors own 95.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AVNT shares. Stifel Nicolaus boosted their price objective on shares of Avient from $49.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Wells Fargo & Company boosted their price objective on shares of Avient from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, Oppenheimer boosted their price objective on shares of Avient from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.20.

Get Our Latest Stock Analysis on Avient

Avient Trading Up 2.2 %

Shares of Avient stock opened at $44.91 on Thursday. The company has a market capitalization of $4.10 billion, a P/E ratio of 39.05, a P/E/G ratio of 0.94 and a beta of 1.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42 and a current ratio of 1.90. The company has a fifty day moving average of $43.81 and a 200 day moving average of $40.32. Avient Co. has a fifty-two week low of $27.73 and a fifty-two week high of $47.87.

Avient (NYSE:AVNTGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. The company had revenue of $829.00 million during the quarter, compared to the consensus estimate of $818.45 million. Avient had a net margin of 3.37% and a return on equity of 9.79%. Avient’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, sell-side analysts anticipate that Avient Co. will post 2.61 earnings per share for the current fiscal year.

Avient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be paid a $0.257 dividend. This represents a $1.03 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, June 21st. Avient’s payout ratio is currently 89.57%.

Avient Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding AVNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avient Co. (NYSE:AVNTFree Report).

Institutional Ownership by Quarter for Avient (NYSE:AVNT)

Receive News & Ratings for Avient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avient and related companies with MarketBeat.com's FREE daily email newsletter.