Avient (NYSE:AVNT) Trading Down 5.1% – Time to Sell?

Avient Co. (NYSE:AVNT) dropped 5.1% during trading on Friday . The stock traded as low as $37.78 and last traded at $37.61. Approximately 348,821 shares changed hands during trading, a decline of 42% from the average daily volume of 597,235 shares. The stock had previously closed at $39.65.

Wall Street Analyst Weigh In

AVNT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Avient from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Robert W. Baird began coverage on shares of Avient in a research note on Friday, March 14th. They set a “neutral” rating and a $43.00 target price on the stock. Baird R W raised shares of Avient to a “hold” rating in a research note on Friday, March 14th. Wells Fargo & Company dropped their price objective 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. Finally, Seaport Res Ptn upgraded Avient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.80.

Avient Price Performance

The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $3.46 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.25 and a beta of 1.43. The business’s 50-day moving average is $42.02 and its two-hundred day moving average is $45.64.

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

Avient Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.85%. The ex-dividend date is Tuesday, March 18th. Avient’s dividend payout ratio is 59.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Choreo LLC lifted its stake in Avient by 4.3% in the fourth quarter. Choreo LLC now owns 5,812 shares of the company’s stock valued at $237,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Avient by 56.2% in 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. Envestnet Portfolio Solutions Inc. lifted its holdings in Avient by 4.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company’s stock valued at $270,000 after purchasing an additional 256 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Avient by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company’s stock worth $227,000 after purchasing an additional 258 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Avient by 44.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock worth $50,000 after purchasing an additional 310 shares in the last quarter. 95.48% of the stock is owned by institutional investors.

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.