Wealthfront Advisers LLC Invests $1.71 Million in Avient Co. (NYSE:AVNT)

Wealthfront Advisers LLC purchased a new position in shares of Avient Co. (NYSE:AVNT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 41,896 shares of the company’s stock, valued at approximately $1,712,000.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Avient by 44.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock worth $50,000 after acquiring an additional 310 shares during the last quarter. Point72 DIFC Ltd bought a new position in Avient during the 3rd quarter worth approximately $60,000. Venturi Wealth Management LLC bought a new position in Avient during the 4th quarter worth approximately $96,000. Finally, KBC Group NV boosted its stake in Avient by 47.2% during the 4th quarter. KBC Group NV now owns 4,090 shares of the company’s stock worth $167,000 after acquiring an additional 1,312 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Price Performance

NYSE AVNT opened at $40.33 on Friday. 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 Co. has a 12-month low of $37.63 and a 12-month high of $54.68. The company 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 200-day moving average is $45.87.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. Equities research analysts anticipate that Avient Co. 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. Stockholders 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 dividend yield of 2.68%. Avient’s dividend payout ratio (DPR) is presently 59.02%.

Analyst Upgrades and Downgrades

AVNT has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price objective 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. Robert W. Baird assumed coverage on shares of Avient in a research note on Friday. They issued a “neutral” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Avient from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Seaport Res Ptn raised shares of Avient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $51.80.

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.