iSAM Funds UK Ltd Lowers Stock Position in Avient Co. (NYSE:AVNT)

iSAM Funds UK Ltd lessened its holdings in Avient Co. (NYSE:AVNT) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,082 shares of the company’s stock after selling 392 shares during the quarter. iSAM Funds UK Ltd’s holdings in Avient were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Avient by 3.0% in the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company’s stock valued at $213,977,000 after purchasing an additional 121,349 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Avient during the 3rd quarter valued at approximately $60,000. Point72 Asset Management L.P. lifted its position in shares of Avient by 112.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 151,953 shares of the company’s stock valued at $7,646,000 after acquiring an additional 80,414 shares during the period. Centiva Capital LP acquired a new stake in shares of Avient during the 3rd quarter valued at approximately $253,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Avient by 165.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,090 shares of the company’s stock valued at $357,000 after acquiring an additional 4,418 shares during the period. Hedge funds and other institutional investors own 95.48% of the company’s stock.

Avient Trading Down 0.1 %

Shares of Avient stock opened at $49.84 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.21. Avient Co. has a 1 year low of $35.33 and a 1 year high of $54.68. The company has a market capitalization of $4.55 billion, a P/E ratio of 30.77, a P/E/G ratio of 1.29 and a beta of 1.50. The business has a 50 day moving average price of $49.87 and a 200 day moving average price of $46.86.

Avient (NYSE:AVNT) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Avient had a return on equity of 10.56% and a net margin of 4.66%. The firm had revenue of $815.20 million during the quarter, compared to the consensus estimate of $797.50 million. During the same period in the previous year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Avient Co. will post 2.66 EPS for the current fiscal year.

Avient Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 13th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Avient’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 2.17%. Avient’s payout ratio is 63.58%.

Analysts Set New Price Targets

AVNT has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on shares of Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday. Oppenheimer lifted their price target on shares of Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Seaport Res Ptn downgraded shares of Avient from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

Insider Buying and Selling at Avient

In other Avient news, SVP Joel R. Rathbun sold 5,762 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total value of $296,454.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is currently owned by insiders.

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.