Avient Co. (NYSE:AVNT) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in shares of Avient Co. (NYSE:AVNTGet Rating) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,994,135 shares of the company’s stock after purchasing an additional 109,038 shares during the period. Franklin Resources Inc. owned 3.29% of Avient worth $120,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC purchased a new stake in Avient during the second quarter worth approximately $25,000. Arcadia Investment Management Corp MI purchased a new stake in Avient during the second quarter worth approximately $25,000. Lazard Asset Management LLC grew its stake in Avient by 104.2% during the second quarter. Lazard Asset Management LLC now owns 686 shares of the company’s stock worth $27,000 after buying an additional 350 shares during the period. First Horizon Advisors Inc. grew its stake in Avient by 565.9% during the second quarter. First Horizon Advisors Inc. now owns 1,172 shares of the company’s stock worth $46,000 after buying an additional 996 shares during the period. Finally, Covestor Ltd grew its stake in Avient by 123.1% during the first quarter. Covestor Ltd now owns 1,187 shares of the company’s stock worth $57,000 after buying an additional 655 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVNT. Robert W. Baird decreased their price objective on shares of Avient from $42.00 to $35.00 in a research note on Thursday, November 3rd. Stifel Nicolaus decreased their target price on shares of Avient from $76.00 to $70.00 in a research note on Wednesday, July 27th. Wells Fargo & Company decreased their target price on shares of Avient from $38.00 to $33.00 in a research note on Thursday, November 3rd. Oppenheimer downgraded shares of Avient from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 28th. Finally, TheStreet downgraded shares of Avient from a “b-” rating to a “c+” rating in a research note on Monday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.57.

Avient Trading Up 1.8 %

NYSE AVNT opened at $33.90 on Thursday. Avient Co. has a 12 month low of $27.65 and a 12 month high of $60.10. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.28 and a quick ratio of 0.99. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 16.62 and a beta of 1.54. The company’s fifty day moving average price is $32.66 and its two-hundred day moving average price is $40.23.

Avient (NYSE:AVNTGet Rating) last issued its earnings results on Wednesday, November 2nd. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). The business had revenue of $823.30 million for the quarter, compared to analyst estimates of $850.82 million. Avient had a return on equity of 16.11% and a net margin of 4.08%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company posted $0.70 earnings per share. As a group, research analysts predict that Avient Co. will post 2.92 earnings per share for the current fiscal year.

Avient Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 16th will be issued a dividend of $0.2475 per share. This represents a $0.99 dividend on an annualized basis and a dividend yield of 2.92%. This is a boost from Avient’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 15th. Avient’s dividend payout ratio is 46.57%.

Avient Profile

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Avient Corporation provides specialized formulator, services, and sustainable material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates through three segments: Color, Additives and Inks; Specialty Engineered Materials; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks.

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Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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