Avient Co. (NYSE:AVNT – Get Free Report) 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.
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.
Read Our Latest Analysis on Avient
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.
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