Avient Co. (NYSE:AVNT) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in Avient Co. (NYSE:AVNT) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,857,500 shares of the company’s stock after selling 185,018 shares during the quarter. Alliancebernstein L.P.’s holdings in Avient were worth $116,757,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cerity Partners LLC increased its position in Avient by 48.5% in the 3rd quarter. Cerity Partners LLC now owns 30,868 shares of the company’s stock valued at $1,553,000 after acquiring an additional 10,088 shares during the period. FMR LLC grew its stake in shares of Avient by 288.0% in the 3rd quarter. FMR LLC now owns 26,138 shares of the company’s stock valued at $1,315,000 after purchasing an additional 19,401 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Avient by 40.6% in the third quarter. Glenmede Trust Co. NA now owns 8,084 shares of the company’s stock valued at $407,000 after purchasing an additional 2,335 shares during the period. Captrust Financial Advisors raised its stake in shares of Avient by 20.4% during the third quarter. Captrust Financial Advisors now owns 18,331 shares of the company’s stock worth $922,000 after purchasing an additional 3,111 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Avient during the third quarter worth $253,000. 95.48% of the stock is owned by hedge funds and other institutional investors.

Avient Stock Performance

NYSE AVNT opened at $37.95 on Thursday. The business has a 50 day moving average price of $41.46 and a 200 day moving average price of $45.12. The company has a market capitalization of $3.47 billion, a P/E ratio of 20.74, a PEG ratio of 1.25 and a beta of 1.43. Avient Co. has a 1-year low of $35.98 and a 1-year high of $54.68. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42.

Avient (NYSE:AVNT) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Avient had a return on equity of 10.44% and a net margin of 5.23%. Sell-side analysts expect that Avient Co. will post 2.85 EPS for the current fiscal year.

Avient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Tuesday, March 18th. Avient’s dividend payout ratio (DPR) is presently 59.02%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AVNT shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Baird R W raised Avient to a “hold” rating in a report on Friday, March 14th. Robert W. Baird initiated coverage on Avient in a research note on Friday, March 14th. They issued a “neutral” rating and a $43.00 price target on the stock. Wells Fargo & Company cut their price objective on Avient from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, Seaport Res Ptn upgraded shares of Avient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.80.

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.