Avient (NYSE:AVNT) Upgraded to Hold at Baird R W

Baird R W upgraded shares of Avient (NYSE:AVNT) to a hold rating in a research note published on Friday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on AVNT. Robert W. Baird began coverage on shares of Avient in a research note on Friday. They set a “neutral” rating and a $43.00 price objective on the stock. Seaport Res Ptn raised shares of Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company dropped their target price on shares of Avient from $59.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Avient presently has an average rating of “Moderate Buy” and an average target price of $51.80.

Avient Trading Up 2.1 %

Shares of Avient stock opened at $40.33 on Friday. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.25 and a beta of 1.43. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. Avient has a 12-month low of $37.63 and a 12-month high of $54.68. The firm’s 50-day moving average price is $41.93 and its two-hundred day moving average price is $45.84.

Avient (NYSE:AVNT) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. On average, analysts forecast that Avient will post 2.85 earnings per share for the current fiscal year.

Avient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Tuesday, March 18th will be issued a $0.27 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 dividend on an annualized basis and a yield of 2.68%. Avient’s dividend payout ratio (DPR) is presently 59.02%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Avient by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 10,313,859 shares of the company’s stock valued at $421,424,000 after buying an additional 79,661 shares during the last quarter. State Street Corp raised its holdings in Avient by 3.0% in the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company’s stock valued at $213,977,000 after buying an additional 121,349 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Avient by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,069,093 shares of the company’s stock valued at $166,259,000 after buying an additional 90,535 shares during the last quarter. Franklin Resources Inc. raised its holdings in Avient by 9.5% in the 4th quarter. Franklin Resources Inc. now owns 3,185,999 shares of the company’s stock valued at $130,180,000 after buying an additional 276,357 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Avient by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company’s stock valued at $109,431,000 after buying an additional 43,249 shares during the last quarter. Institutional investors own 95.48% of the company’s stock.

Avient Company 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.