Avient Co. (NYSE:AVNT) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC reduced its position in shares of Avient Co. (NYSE:AVNT) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,709 shares of the company’s stock after selling 667 shares during the period. Orion Portfolio Solutions LLC’s holdings in Avient were worth $891,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Avient by 81.6% during the 3rd quarter. UMB Bank n.a. now owns 663 shares of the company’s stock worth $33,000 after buying an additional 298 shares in the last quarter. Signaturefd LLC grew its holdings in Avient by 58.7% during the third quarter. Signaturefd LLC now owns 865 shares of the company’s stock worth $44,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC grew its holdings in Avient by 35.4% during the third quarter. GAMMA Investing LLC now owns 1,098 shares of the company’s stock worth $55,000 after acquiring an additional 287 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Avient in the second quarter worth $59,000. Finally, Point72 DIFC Ltd acquired a new stake in Avient in the third quarter valued at $60,000. Institutional investors and hedge funds own 95.48% of the company’s stock.

Insider Transactions at Avient

In other news, SVP Joel R. Rathbun sold 5,762 shares of Avient stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $51.45, for a total transaction of $296,454.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Avient from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Seaport Res Ptn lowered shares of Avient from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.50.

Avient Price Performance

Avient stock opened at $47.52 on Monday. The firm has a market capitalization of $4.34 billion, a PE ratio of 29.33, a P/E/G ratio of 1.26 and a beta of 1.50. Avient Co. has a 52 week low of $35.50 and a 52 week high of $54.68. The firm’s 50-day simple moving average is $49.82 and its 200 day simple moving average is $47.04. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87.

Avient (NYSE:AVNT) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. Avient had a net margin of 4.66% and a return on equity of 10.56%. The company had revenue of $815.20 million for the quarter, compared to the consensus estimate of $797.50 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that Avient Co. will post 2.66 EPS for the current fiscal year.

Avient Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 13th will be given a dividend of $0.27 per share. This is an increase from Avient’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, December 13th. This represents a $1.08 annualized dividend and a yield of 2.27%. Avient’s dividend payout ratio (DPR) is presently 66.67%.

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.