Avient (NYSE:AVNT) Coverage Initiated at Robert W. Baird

Robert W. Baird initiated coverage on shares of Avient (NYSE:AVNT) in a research note released on Friday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $43.00 price target on the stock.

A number of other research firms have also weighed in on AVNT. Deutsche Bank Aktiengesellschaft upped their target price on shares of Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company cut their target price on shares of Avient from $59.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, Seaport Res Ptn upgraded shares of Avient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $51.80.

Avient Stock Up 2.1 %

Shares of NYSE:AVNT opened at $40.33 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42. The firm has a market capitalization of $3.69 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 1.25 and a beta of 1.43. The firm’s 50-day moving average is $41.93 and its two-hundred day moving average is $45.87. Avient has a 1 year low of $37.63 and a 1 year high of $54.68.

Avient (NYSE:AVNT) last issued its quarterly earnings results 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%. Analysts predict that Avient will post 2.85 EPS for the current year.

Avient Dividend Announcement

The firm also recently declared 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. This represents a $1.08 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Tuesday, March 18th. Avient’s dividend payout ratio (DPR) is 59.02%.

Hedge Funds Weigh In On Avient

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its holdings in Avient by 56.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 695 shares of the company’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Avient by 44.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock valued at $50,000 after purchasing an additional 310 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Avient in the third quarter valued at approximately $60,000. Headlands Technologies LLC acquired a new stake in shares of Avient in the fourth quarter valued at approximately $90,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Avient in the fourth quarter valued at approximately $96,000. 95.48% of the stock is owned by institutional investors and hedge funds.

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.