Avient Co. (NYSE:AVNT) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC trimmed its holdings in shares of Avient Co. (NYSE:AVNT) by 97.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,043 shares of the company’s stock after selling 175,750 shares during the period. Guggenheim Capital LLC’s holdings in Avient were worth $206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Choreo LLC lifted its position in Avient by 4.3% during the fourth quarter. Choreo LLC now owns 5,812 shares of the company’s stock valued at $237,000 after buying an additional 238 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Avient by 56.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 695 shares of the company’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of 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 period. Janney Montgomery Scott LLC raised its stake in shares of Avient by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company’s stock valued at $227,000 after purchasing an additional 258 shares during the period. Finally, LPL Financial LLC raised its stake in shares of Avient by 4.3% during the fourth quarter. LPL Financial LLC now owns 15,289 shares of the company’s stock valued at $625,000 after purchasing an additional 629 shares during the period. 95.48% of the stock is owned by institutional investors and hedge funds.

Avient Stock Performance

AVNT opened at $33.23 on Tuesday. Avient Co. has a twelve month low of $27.86 and a twelve month high of $54.68. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. The stock has a market cap of $3.04 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 1.25 and a beta of 1.41. The business’s 50 day moving average is $36.92 and its 200-day moving average is $42.70.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. On average, 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 was paid on Friday, April 4th. Investors of record on Tuesday, March 18th were paid a dividend of $0.27 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.25%. Avient’s dividend payout ratio is presently 59.02%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AVNT shares. Robert W. Baird started coverage on shares of Avient in a research note on Friday, March 14th. They set a “neutral” rating and a $43.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of Avient from $55.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Baird R W upgraded shares of Avient to a “hold” rating in a research note on Friday, March 14th. Seaport Res Ptn raised shares of Avient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, 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 research report on Friday, February 14th. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.60.

Avient 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.