Dimensional Fund Advisors LP lifted its stake in Avient Corporation (NYSE:AVNT – Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,973,887 shares of the company’s stock after acquiring an additional 192,788 shares during the period. Dimensional Fund Advisors LP owned 5.42% of Avient worth $180,546,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Avient by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 10,218,398 shares of the company’s stock valued at $319,223,000 after acquiring an additional 77,246 shares during the period. Franklin Resources Inc. raised its holdings in Avient by 11.1% during the fourth quarter. Franklin Resources Inc. now owns 4,090,286 shares of the company’s stock worth $127,781,000 after purchasing an additional 410,112 shares in the last quarter. Geode Capital Management LLC lifted its position in Avient by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,283,321 shares of the company’s stock worth $71,341,000 after purchasing an additional 11,801 shares during the period. Channing Capital Management LLC lifted its position in Avient by 0.3% in the fourth quarter. Channing Capital Management LLC now owns 2,102,982 shares of the company’s stock worth $65,697,000 after purchasing an additional 7,161 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Avient by 4.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,800,903 shares of the company’s stock valued at $56,260,000 after purchasing an additional 70,978 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors.
Avient Trading Up 2.5%
Avient stock opened at $37.57 on Friday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Avient Corporation has a 1 year low of $27.48 and a 1 year high of $44.85. The firm’s 50 day moving average price is $36.12 and its two-hundred day moving average price is $36.73. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.29 and a current ratio of 1.77.
Avient Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, September 11th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.9%. Avient’s payout ratio is 63.95%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Truist Financial initiated coverage on Avient in a research report on Monday, June 8th. They set a “buy” rating and a $44.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Avient in a research note on Wednesday, May 13th. Robert W. Baird set a $43.00 target price on Avient in a report on Friday, May 8th. Finally, UBS Group set a $44.00 price target on shares of Avient in a research report on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Avient presently has an average rating of “Hold” and a consensus target price of $45.71.
Get Our Latest Stock Analysis on Avient
Avient Company Profile
Avient Corporation (NYSE: AVNT) is a global provider of specialized and sustainable polymer materials, delivering color, additive and engineered solutions to a wide range of industries. The company’s core offerings include masterbatches, colorant systems, compounds and resins designed to enhance performance, aesthetics and environmental sustainability. Avient serves markets such as packaging, automotive, consumer goods, healthcare, electronics, and agriculture, tailoring products to meet stringent regulatory and end-use requirements.
Formed through a corporate rebranding in 2020 following the divestiture of PolyOne’s specialty businesses, Avient traces its heritage to a legacy of polymer innovation spanning decades.
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