Avient Co. (NYSE:AVNT) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its stake in shares of Avient Co. (NYSE:AVNT) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,305 shares of the company’s stock after selling 3,419 shares during the period. Amalgamated Bank’s holdings in Avient were worth $1,934,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in shares of Avient during the first quarter valued at approximately $35,000. GAMMA Investing LLC increased its position in shares of Avient by 88.6% during the 2nd quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock valued at $35,000 after purchasing an additional 381 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Avient in the 2nd quarter worth $59,000. Innealta Capital LLC acquired a new stake in shares of Avient in the second quarter valued at $119,000. Finally, Lazard Asset Management LLC bought a new position in Avient during the first quarter valued at about $133,000. 95.48% of the stock is currently owned by institutional investors.

Avient Stock Performance

AVNT opened at $49.37 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 0.61. The firm has a market cap of $4.51 billion, a PE ratio of 42.93, a P/E/G ratio of 1.21 and a beta of 1.47. The business has a fifty day simple moving average of $46.26 and a 200-day simple moving average of $44.39. Avient Co. has a fifty-two week low of $27.73 and a fifty-two week high of $50.00.

Avient (NYSE:AVNT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. Avient had a return on equity of 10.34% and a net margin of 3.70%. The firm had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $841.40 million. During the same quarter last year, the business posted $0.63 EPS. Avient’s revenue was up 3.1% on a year-over-year basis. As a group, equities analysts predict that Avient Co. will post 2.65 EPS for the current fiscal year.

Avient Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 13th will be paid a $0.2575 dividend. This is a positive change from Avient’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.03 dividend on an annualized basis and a yield of 2.09%. Avient’s dividend payout ratio (DPR) is currently 89.57%.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft raised shares of Avient from a “hold” rating to a “buy” rating and upped their price target for the company from $49.00 to $52.00 in a report on Wednesday, August 7th.

Avient Company 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.