Avient Co. (AVNT) To Go Ex-Dividend on March 18th

Avient Co. (NYSE:AVNT) declared a quarterly dividend on Monday, February 10th, RTT News reports. Stockholders of record on Tuesday, March 18th will be paid a dividend of 0.27 per share on Friday, April 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, March 18th.

Avient has raised its dividend by an average of 6.0% per year over the last three years. Avient has a payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Avient to earn $3.28 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 32.9%.

Avient Price Performance

Shares of NYSE:AVNT opened at $40.33 on Friday. The company’s fifty day moving average price is $41.93 and its 200-day moving average price is $45.85. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.25 and a beta of 1.43. Avient has a one year low of $37.63 and a one year high of $54.68. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42.

Avient (NYSE:AVNT) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. On average, equities research analysts anticipate that Avient will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AVNT has been the subject of a number of research reports. Seaport Res Ptn raised shares of Avient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company cut their price objective on shares of Avient from $59.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Robert W. Baird initiated coverage on shares of Avient in a research note on Friday. They issued a “neutral” rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Avient from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Baird R W raised shares of Avient to a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.80.

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.