Avient Co. (NYSE:AVNT) to Issue $0.26 Quarterly Dividend

Avient Co. (NYSE:AVNT) declared a quarterly dividend on Thursday, May 16th, Zacks reports. Stockholders of record on Friday, June 21st will be given a dividend of 0.257 per share on Wednesday, July 10th. This represents a $1.03 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, June 21st.

Avient has increased its dividend by an average of 6.8% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Avient has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Avient to earn $2.99 per share next year, which means the company should continue to be able to cover its $1.03 annual dividend with an expected future payout ratio of 34.4%.

Avient Stock Up 0.6 %

AVNT opened at $43.68 on Thursday. The company has a market cap of $3.99 billion, a P/E ratio of 37.98, a P/E/G ratio of 1.22 and a beta of 1.53. The business’s 50-day moving average price is $43.99 and its 200-day moving average price is $40.96. The company has a current ratio of 1.90, a quick ratio of 1.42 and a debt-to-equity ratio of 0.89. Avient has a 12 month low of $27.73 and a 12 month high of $47.87.

Avient (NYSE:AVNT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. Avient had a return on equity of 9.79% and a net margin of 3.37%. The company had revenue of $829.00 million for the quarter, compared to the consensus estimate of $818.45 million. During the same quarter in the previous year, the business earned $0.63 EPS. Avient’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts expect that Avient will post 2.6 EPS for the current year.

Analyst Ratings Changes

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

About Avient

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.