Avient (NYSE:AVNT) Upgraded to “Hold” at Baird R W

Baird R W upgraded shares of Avient (NYSE:AVNT) to a hold rating in a research report sent to investors on Friday morning,Zacks.com reports.

Other equities research analysts have also issued reports about 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 report on Friday, February 14th. Wells Fargo & Company decreased their price target on shares of Avient from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Robert W. Baird assumed coverage on shares of Avient in a report on Friday. They set a “neutral” rating and a $43.00 price target on the stock. Finally, Seaport Res Ptn raised shares of Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.80.

Avient Price Performance

Shares of NYSE:AVNT opened at $40.33 on Friday. The firm has a 50 day moving average of $41.93 and a 200-day moving average of $45.87. The stock has a market capitalization of $3.69 billion, a PE ratio of 22.04, a PEG ratio of 1.25 and a beta of 1.43. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. Avient has a 12 month low of $37.63 and a 12 month high of $54.68.

Avient (NYSE:AVNT) last issued its earnings results on Thursday, February 13th. The company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. On average, equities research analysts predict that Avient will post 2.85 EPS for the current fiscal year.

Avient Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be given a $0.27 dividend. The ex-dividend date of this dividend 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 currently 59.02%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AVNT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Avient by 35.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 287,441 shares of the company’s stock worth $11,745,000 after buying an additional 75,787 shares during the last quarter. Twinbeech Capital LP acquired a new position in Avient during the fourth quarter worth $6,388,000. Sherbrooke Park Advisers LLC raised its holdings in Avient by 46.7% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 9,558 shares of the company’s stock worth $391,000 after buying an additional 3,044 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in Avient by 11.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,312,215 shares of the company’s stock worth $53,617,000 after buying an additional 131,580 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Avient by 250.5% during the fourth quarter. Point72 Asset Management L.P. now owns 532,610 shares of the company’s stock worth $21,762,000 after buying an additional 380,657 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

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.