Cerity Partners LLC Has $876,000 Position in Avient Corporation (NYSE:AVNT)

Cerity Partners LLC grew its stake in Avient Corporation (NYSE:AVNT) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,571 shares of the company’s stock after purchasing an additional 416 shares during the period. Cerity Partners LLC’s holdings in Avient were worth $876,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. raised its position in Avient by 85.8% in the 1st quarter. UMB Bank n.a. now owns 1,126 shares of the company’s stock valued at $42,000 after purchasing an additional 520 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Avient by 57.5% in the first quarter. GAMMA Investing LLC now owns 1,422 shares of the company’s stock worth $53,000 after acquiring an additional 519 shares during the last quarter. Allworth Financial LP lifted its position in shares of Avient by 2,450.0% during the first quarter. Allworth Financial LP now owns 1,479 shares of the company’s stock worth $55,000 after purchasing an additional 1,421 shares in the last quarter. Curat Global LLC bought a new stake in shares of Avient during the first quarter valued at approximately $56,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Avient in the fourth quarter valued at approximately $90,000. Institutional investors own 95.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AVNT shares. Wells Fargo & Company raised their price objective on shares of Avient from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Morgan Stanley cut their target price on Avient from $51.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, May 12th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.80.

Avient Price Performance

Shares of NYSE AVNT opened at $34.23 on Thursday. The stock has a market capitalization of $3.13 billion, a PE ratio of 31.99, a P/E/G ratio of 1.13 and a beta of 1.33. Avient Corporation has a fifty-two week low of $27.86 and a fifty-two week high of $54.68. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.05 and a quick ratio of 1.51. The business has a fifty day moving average price of $35.02 and a two-hundred day moving average price of $37.32.

Avient (NYSE:AVNT) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. The company had revenue of $826.60 million for the quarter, compared to the consensus estimate of $834.90 million. Avient had a net margin of 3.09% and a return on equity of 10.48%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.76 EPS. As a group, equities analysts predict that Avient Corporation will post 2.85 earnings per share for the current fiscal year.

Avient Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 3.16%. Avient’s payout ratio is 100.93%.

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.