Avient Co. (NYSE:AVNT) Declares Quarterly Dividend of $0.27

Avient Co. (NYSE:AVNT) declared a quarterly dividend on Monday, February 10th,RTT News reports. Shareholders of record on Tuesday, March 18th will be paid a dividend of 0.27 per share on Friday, April 4th. This represents a $1.08 annualized dividend and a yield of 2.57%.

Avient has increased its dividend payment by an average of 6.0% annually over the last three years. Avient has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Avient to earn $2.87 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 37.6%.

Avient Stock Performance

Shares of AVNT stock opened at $41.99 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.21. The firm has a 50-day moving average of $43.11 and a 200-day moving average of $46.42. Avient has a one year low of $35.86 and a one year high of $54.68. The company has a market cap of $3.84 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.08 and a beta of 1.51.

Analyst Ratings Changes

A number of analysts recently commented on the company. Seaport Res Ptn downgraded Avient from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Oppenheimer lifted their target price on Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company boosted their price target on shares of Avient from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.50.

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.