Avient Co. (AVNT) to Issue Quarterly Dividend of $0.26 on October 9th

Avient Co. (NYSE:AVNT) declared a quarterly dividend on Thursday, July 11th, Wall Street Journal reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.2575 per share on Wednesday, October 9th. This represents a $1.03 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Avient’s previous quarterly dividend of $0.26.

Avient has raised its dividend payment by an average of 6.8% annually over the last three years and has increased its dividend every year for the last 12 years. Avient has a dividend payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Avient to earn $3.02 per share next year, which means the company should continue to be able to cover its $1.03 annual dividend with an expected future payout ratio of 34.1%.

Avient Stock Up 0.9 %

Shares of AVNT opened at $45.02 on Wednesday. The firm has a market capitalization of $4.11 billion, a P/E ratio of 39.15, a P/E/G ratio of 1.12 and a beta of 1.47. Avient has a 12-month low of $27.73 and a 12-month high of $49.47. The firm has a fifty day moving average price of $45.30 and a 200-day moving average price of $43.84. The company has a current ratio of 0.97, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61.

Avient (NYSE:AVNT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. The firm had revenue of $850.00 million during the quarter, compared to the consensus estimate of $841.40 million. Avient had a net margin of 3.70% and a return on equity of 10.34%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Equities research analysts expect that Avient will post 2.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft raised shares of Avient from a “hold” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $52.00 in a research note on Wednesday, August 7th.

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.