State of Alaska Department of Revenue Has $531,000 Position in Avient Co. (NYSE:AVNT)

State of Alaska Department of Revenue raised its stake in shares of Avient Co. (NYSE:AVNT) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,560 shares of the company’s stock after purchasing an additional 715 shares during the period. State of Alaska Department of Revenue’s holdings in Avient were worth $531,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC grew its holdings in Avient by 2.1% in the 1st quarter. Tidal Investments LLC now owns 12,877 shares of the company’s stock valued at $559,000 after buying an additional 259 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of 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 acquiring an additional 276 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Avient by 35.4% in 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 last quarter. CWM LLC increased its position in Avient by 21.5% during the third quarter. CWM LLC now owns 1,637 shares of the company’s stock worth $82,000 after acquiring an additional 290 shares during the period. Finally, UMB Bank n.a. raised its stake in Avient by 81.6% during the 3rd quarter. UMB Bank n.a. now owns 663 shares of the company’s stock valued at $33,000 after purchasing an additional 298 shares during the last quarter. Institutional investors own 95.48% of the company’s stock.

Avient Trading Up 1.0 %

AVNT stock opened at $51.45 on Friday. The business’s 50 day moving average is $48.39 and its 200-day moving average is $45.88. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. The firm has a market cap of $4.70 billion, a P/E ratio of 31.76, a P/E/G ratio of 1.20 and a beta of 1.48. Avient Co. has a 1-year low of $31.45 and a 1-year high of $54.68.

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, beating analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $815.20 million during the quarter, compared to analysts’ expectations of $797.50 million. Avient had a return on equity of 10.56% and a net margin of 4.66%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. Equities analysts anticipate that Avient Co. will post 2.65 earnings per share for the current fiscal year.

Avient Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 13th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Avient’s previous quarterly dividend of $0.26. Avient’s payout ratio is 66.67%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Avient from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $52.00 in a report on Wednesday, August 7th. Wells Fargo & Company upped their price target on Avient from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Oppenheimer raised their price objective on Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Seaport Res Ptn lowered Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

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.