Wells Fargo & Company Lowers Avient (NYSE:AVNT) Price Target to $55.00

Avient (NYSE:AVNTFree Report) had its price objective lowered by Wells Fargo & Company from $59.00 to $55.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Seaport Res Ptn cut Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Avient from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Avient currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Check Out Our Latest Report on Avient

Avient Trading Up 0.2 %

NYSE:AVNT opened at $43.02 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. Avient has a 1-year low of $37.63 and a 1-year high of $54.68. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. The stock has a fifty day simple moving average of $42.48 and a 200 day simple moving average of $46.32.

Avient (NYSE:AVNTGet Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Avient had a return on equity of 10.56% and a net margin of 4.66%. Sell-side analysts forecast that Avient will post 2.65 earnings per share for the current year.

Avient Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, March 18th. This represents a $1.08 annualized dividend and a yield of 2.51%. Avient’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Investors Weigh In On Avient

Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Avient by 56.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 695 shares of the company’s stock valued at $28,000 after buying an additional 250 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Avient by 58.7% during the 3rd quarter. Signaturefd LLC now owns 865 shares of the company’s stock valued at $44,000 after buying an additional 320 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Avient by 44.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock valued at $50,000 after buying an additional 310 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Avient during the 3rd quarter valued at about $60,000. Finally, Covestor Ltd lifted its holdings in shares of Avient by 185.5% during the 3rd quarter. Covestor Ltd now owns 1,459 shares of the company’s stock valued at $73,000 after buying an additional 948 shares during the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.

About Avient

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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.

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