Versor Investments LP Lowers Position in Avient Co. (NYSE:AVNT)

Versor Investments LP reduced its position in shares of Avient Co. (NYSE:AVNT) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,207 shares of the company’s stock after selling 4,044 shares during the period. Versor Investments LP’s holdings in Avient were worth $540,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AVNT. Nomura Asset Management Co. Ltd. increased its position in Avient by 44.9% during the 3rd 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 during the period. Point72 DIFC Ltd acquired a new position in Avient during the third quarter worth $60,000. Covestor Ltd raised its position in Avient by 185.5% in the third quarter. Covestor Ltd now owns 1,459 shares of the company’s stock worth $73,000 after acquiring an additional 948 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Avient in the fourth quarter valued at $96,000. Finally, Prudent Man Advisors LLC purchased a new stake in shares of Avient during the 3rd quarter worth $200,000. Institutional investors and hedge funds own 95.48% of the company’s stock.

Analysts Set New Price Targets

AVNT has been the subject of a number of research analyst reports. Seaport Res Ptn upgraded shares of Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company dropped their target price on shares of Avient from $59.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Avient from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Avient has a consensus rating of “Buy” and an average target price of $54.00.

Avient Trading Up 1.7 %

NYSE:AVNT opened at $42.81 on Friday. Avient Co. has a 52-week low of $37.63 and a 52-week high of $54.68. 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 stock has a fifty day simple moving average of $41.89 and a 200-day simple moving average of $46.27. The company has a market capitalization of $3.91 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.25 and a beta of 1.51.

Avient (NYSE:AVNT) last announced its earnings results on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. On average, equities research analysts expect that Avient Co. will post 2.85 earnings per share for the current fiscal year.

Avient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Tuesday, March 18th. Avient’s dividend payout ratio (DPR) is presently 59.02%.

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.