Swiss National Bank Acquires 1,400 Shares of Avient Co. (NYSE:AVNT)

Swiss National Bank increased its holdings in shares of Avient Co. (NYSE:AVNT) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 179,600 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Swiss National Bank’s holdings in Avient were worth $7,338,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its stake in Avient by 10.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,806 shares of the company’s stock valued at $482,000 after acquiring an additional 1,085 shares in the last quarter. Great Lakes Advisors LLC boosted its stake in Avient by 1.1% in the 4th quarter. Great Lakes Advisors LLC now owns 251,439 shares of the company’s stock worth $10,274,000 after purchasing an additional 2,728 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Avient during the 4th quarter worth approximately $1,712,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Avient by 23.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,265 shares of the company’s stock valued at $1,073,000 after purchasing an additional 5,041 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Avient by 84,330.8% during the fourth quarter. AlphaQuest LLC now owns 21,952 shares of the company’s stock worth $897,000 after buying an additional 21,926 shares during the period. Institutional investors own 95.48% of the company’s stock.

Avient Trading Down 3.1 %

Avient stock opened at $38.43 on Friday. The firm has a market cap of $3.51 billion, a PE ratio of 21.00, a P/E/G ratio of 1.25 and a beta of 1.43. Avient Co. has a 12 month low of $37.49 and a 12 month high of $54.68. The stock’s 50 day simple moving average is $42.02 and its two-hundred day simple moving average is $45.55. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88.

Avient (NYSE:AVNT) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. Analysts anticipate that Avient Co. will post 2.85 earnings per share for the current year.

Avient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 dividend on an annualized basis and a yield of 2.81%. Avient’s dividend payout ratio is currently 59.02%.

Wall Street Analyst Weigh In

AVNT has been the topic of several research reports. Baird R W raised Avient to a “hold” rating in a research report on Friday, March 14th. Seaport Res Ptn upgraded Avient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their target price on Avient from $59.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Robert W. Baird initiated coverage on shares of Avient in a research report on Friday, March 14th. They set a “neutral” rating and a $43.00 price target for the company. Finally, 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 report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.