Bank of Montreal Can Acquires 2,067 Shares of Avient Co. (NYSE:AVNT)

Bank of Montreal Can lifted its holdings in shares of Avient Co. (NYSE:AVNT) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,628 shares of the company’s stock after acquiring an additional 2,067 shares during the quarter. Bank of Montreal Can’s holdings in Avient were worth $679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVNT. Choreo LLC lifted its holdings in Avient by 4.3% in the fourth quarter. Choreo LLC now owns 5,812 shares of the company’s stock worth $237,000 after buying an additional 238 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Avient by 56.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 695 shares of the company’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Avient by 4.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company’s stock worth $270,000 after purchasing an additional 256 shares during the period. Janney Montgomery Scott LLC raised its holdings in Avient by 4.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company’s stock worth $227,000 after purchasing an additional 258 shares in the last quarter. Finally, LPL Financial LLC grew its position in shares of Avient by 4.3% in the 4th quarter. LPL Financial LLC now owns 15,289 shares of the company’s stock worth $625,000 after buying an additional 629 shares during the period. Institutional investors own 95.48% of the company’s stock.

Avient Trading Up 1.2 %

NYSE:AVNT opened at $31.18 on Monday. The company has a 50 day simple moving average of $38.18 and a two-hundred day simple moving average of $43.37. The company has a market cap of $2.85 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.25 and a beta of 1.41. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. Avient Co. has a 12 month low of $27.86 and a 12 month high of $54.68.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. Avient had a return on equity of 10.44% and a net margin of 5.23%. Research analysts forecast that Avient Co. will post 2.85 earnings per share for the current year.

Avient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Tuesday, March 18th were issued a $0.27 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $1.08 dividend on an annualized basis and a yield of 3.46%. Avient’s dividend payout ratio is currently 59.02%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Avient from $55.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Baird R W upgraded Avient to a “hold” rating in a research note on Friday, March 14th. Robert W. Baird assumed coverage on shares of Avient in a report on Friday, March 14th. They issued a “neutral” rating and a $43.00 target price for the company. Seaport Res Ptn raised shares of Avient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Avient from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Avient presently has an average rating of “Moderate Buy” and a consensus target price of $48.60.

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.