3,990 Shares in Avient Co. (NYSE:AVNT) Bought by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC bought a new position in shares of Avient Co. (NYSE:AVNT) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,990 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AVNT. Victory Capital Management Inc. increased its holdings in shares of Avient by 162.9% in the second quarter. Victory Capital Management Inc. now owns 748,675 shares of the company’s stock valued at $32,680,000 after purchasing an additional 463,919 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Avient by 836.9% in the second quarter. Millennium Management LLC now owns 480,227 shares of the company’s stock valued at $20,962,000 after purchasing an additional 428,971 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Avient by 120.6% in the third quarter. Assenagon Asset Management S.A. now owns 784,178 shares of the company’s stock valued at $39,460,000 after purchasing an additional 428,624 shares during the last quarter. F M Investments LLC acquired a new position in shares of Avient in the second quarter valued at $11,135,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Avient by 3.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,936,318 shares of the company’s stock valued at $171,818,000 after purchasing an additional 149,283 shares during the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on AVNT. Wells Fargo & Company upped their price objective on shares of Avient from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised shares of Avient from a “hold” rating to a “buy” rating and boosted their target price for the company from $49.00 to $52.00 in a research report on Wednesday, August 7th. Oppenheimer boosted their target price on shares of Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Seaport Res Ptn cut shares of Avient from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Avient currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Avient Trading Down 2.3 %

AVNT opened at $51.28 on Friday. Avient Co. has a twelve month low of $33.87 and a twelve month high of $54.68. The company has a 50-day simple moving average of $49.68 and a 200 day simple moving average of $46.62. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 1.32 and a beta of 1.48.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Avient had a net margin of 4.66% and a return on equity of 10.56%. The business had revenue of $815.20 million during the quarter, compared to analysts’ expectations of $797.50 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. Avient’s revenue was up 8.2% compared to the same quarter last year. Analysts predict that Avient Co. will post 2.66 EPS for the current fiscal year.

Avient Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 13th will be given a dividend of $0.27 per share. This is a boost from Avient’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, December 13th. This represents a $1.08 annualized dividend and a yield of 2.11%. Avient’s dividend payout ratio is currently 63.58%.

Insider Buying and Selling

In other news, SVP Joel R. Rathbun sold 5,762 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $51.45, for a total value of $296,454.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.88% of the stock is currently owned by company insiders.

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.