Assetmark Inc. Has $1.20 Million Holdings in Avient Co. (NYSE:AVNT)

Assetmark Inc. boosted its position in Avient Co. (NYSE:AVNT) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,862 shares of the company’s stock after buying an additional 1,287 shares during the period. Assetmark Inc.’s holdings in Avient were worth $1,201,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in shares of Avient in the 1st quarter valued at $222,000. Oppenheimer Asset Management Inc. boosted its position in shares of Avient by 3.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 9,145 shares of the company’s stock worth $397,000 after purchasing an additional 276 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Avient in the 1st quarter valued at about $35,000. Avantax Advisory Services Inc. acquired a new stake in shares of Avient in the 1st quarter valued at about $219,000. Finally, State Board of Administration of Florida Retirement System increased its position in Avient by 31.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,863 shares of the company’s stock valued at $1,394,000 after buying an additional 8,040 shares in the last quarter. Institutional investors own 95.48% of the company’s stock.

Avient Stock Performance

Shares of AVNT stock opened at $51.18 on Friday. Avient Co. has a one year low of $33.64 and a one year high of $54.68. The company has a market cap of $4.68 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.31 and a beta of 1.48. The firm has a 50-day moving average of $48.76 and a 200-day moving average of $46.17. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.21.

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

Avient Increases Dividend

The firm 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 dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Avient’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, December 13th. Avient’s payout ratio is presently 63.58%.

Analyst Upgrades and Downgrades

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

Insider Activity at Avient

In other Avient news, SVP Joel R. Rathbun sold 5,762 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total transaction of $296,454.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.88% of the stock is owned by company insiders.

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.