Avior Wealth Management LLC Sells 531 Shares of Avient Co. (NYSE:AVNT)

Avior Wealth Management LLC reduced its holdings in shares of Avient Co. (NYSE:AVNT) by 39.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 832 shares of the company’s stock after selling 531 shares during the quarter. Avior Wealth Management LLC’s holdings in Avient were worth $42,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in AVNT. Victory Capital Management Inc. lifted its position in Avient by 162.9% during the second quarter. Victory Capital Management Inc. now owns 748,675 shares of the company’s stock worth $32,680,000 after acquiring an additional 463,919 shares during the last quarter. Millennium Management LLC lifted its holdings in Avient by 836.9% during the 2nd quarter. Millennium Management LLC now owns 480,227 shares of the company’s stock worth $20,962,000 after purchasing an additional 428,971 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Avient by 120.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 784,178 shares of the company’s stock valued at $39,460,000 after purchasing an additional 428,624 shares during the period. F M Investments LLC acquired a new position in Avient in the 2nd quarter valued at $11,135,000. Finally, Dimensional Fund Advisors LP increased its position in Avient by 3.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,936,318 shares of the company’s stock worth $171,818,000 after buying an additional 149,283 shares during the period. 95.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Avient

In related news, SVP Joel R. Rathbun sold 5,762 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $51.45, for a total transaction of $296,454.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.06% of the stock is owned by insiders.

Avient Trading Up 1.7 %

AVNT opened at $53.17 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. Avient Co. has a twelve month low of $33.84 and a twelve month high of $54.68. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 1.34 and a beta of 1.48. The company has a 50-day simple moving average of $49.51 and a 200 day simple moving average of $46.54.

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

Avient Increases Dividend

The firm also recently declared 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. This is a positive change from Avient’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, December 13th. This represents a $1.08 annualized dividend and a dividend yield of 2.03%. Avient’s dividend payout ratio (DPR) is presently 63.58%.

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.