Strs Ohio Grows Stock Position in Avient Co. (NYSE:AVNT)

Strs Ohio increased its holdings in Avient Co. (NYSE:AVNT) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,700 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Strs Ohio owned approximately 0.21% of Avient worth $7,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. American Century Companies Inc. boosted its position in Avient by 2.2% during the 1st quarter. American Century Companies Inc. now owns 10,341 shares of the company’s stock valued at $496,000 after acquiring an additional 221 shares in the last quarter. Cim Investment Management Inc. raised its stake in Avient by 3.6% during the 1st quarter. Cim Investment Management Inc. now owns 7,656 shares of the company’s stock valued at $315,000 after buying an additional 263 shares during the last quarter. US Bancorp DE increased its stake in shares of Avient by 3.5% in the 1st quarter. US Bancorp DE now owns 8,862 shares of the company’s stock worth $425,000 after purchasing an additional 297 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Avient by 42.8% in the 4th quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock worth $42,000 after purchasing an additional 300 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Avient by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 24,634 shares of the company’s stock worth $870,000 after purchasing an additional 333 shares in the last quarter. 95.48% of the stock is owned by institutional investors.

Avient Stock Up 0.8 %

Shares of NYSE AVNT opened at $42.14 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.37 and a debt-to-equity ratio of 0.89. Avient Co. has a 12-month low of $27.73 and a 12-month high of $43.97. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 50.77, a P/E/G ratio of 0.92 and a beta of 1.53. The firm’s 50-day moving average price is $40.80 and its 200-day moving average price is $37.51.

Avient (NYSE:AVNT) last issued its earnings results on Wednesday, February 14th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $719.00 million for the quarter, compared to analyst estimates of $711.87 million. Avient had a net margin of 2.41% and a return on equity of 9.26%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. On average, equities research analysts anticipate that Avient Co. will post 2.53 EPS for the current fiscal year.

Avient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Tuesday, March 19th were paid a dividend of $0.257 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $1.03 annualized dividend and a dividend yield of 2.44%. Avient’s payout ratio is currently 124.10%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their target price on shares of Avient from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th.

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.