18,499 Shares in Avient Co. (NYSE:AVNT) Bought by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in Avient Co. (NYSE:AVNT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,499 shares of the company’s stock, valued at approximately $807,000.

Several other institutional investors have also recently made changes to their positions in AVNT. Tidal Investments LLC raised its position in Avient by 2.1% in the 1st quarter. Tidal Investments LLC now owns 12,877 shares of the company’s stock worth $559,000 after purchasing an additional 259 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Avient by 3.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 9,145 shares of the company’s stock worth $397,000 after purchasing an additional 276 shares during the period. GAMMA Investing LLC increased its stake in Avient by 88.6% in the second quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock worth $35,000 after purchasing an additional 381 shares during the period. NBC Securities Inc. boosted its stake in shares of Avient by 11.2% during the first quarter. NBC Securities Inc. now owns 4,010 shares of the company’s stock valued at $174,000 after purchasing an additional 405 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Avient by 1.9% in the second quarter. Arizona State Retirement System now owns 25,527 shares of the company’s stock worth $1,114,000 after purchasing an additional 474 shares during the last quarter. Institutional investors own 95.48% of the company’s stock.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft raised shares of Avient from a “hold” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $52.00 in a research report on Wednesday, August 7th.

Avient Price Performance

AVNT opened at $49.37 on Thursday. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 1.21 and a beta of 1.47. The company has a current ratio of 0.97, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. Avient Co. has a 12-month low of $27.73 and a 12-month high of $50.00. The business’s fifty day simple moving average is $46.26 and its 200-day simple moving average is $44.39.

Avient (NYSE:AVNT) last issued its earnings results on Tuesday, August 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. Avient had a net margin of 3.70% and a return on equity of 10.34%. The company had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $841.40 million. During the same period in the prior year, the business earned $0.63 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Avient Co. will post 2.65 earnings per share for the current fiscal year.

Avient Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 13th will be paid a $0.2575 dividend. This is an increase from Avient’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.03 dividend on an annualized basis and a yield of 2.09%. Avient’s payout ratio is 89.57%.

Avient 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.