Avient Co. (NYSE:AVNT – Get Free Report) announced a quarterly dividend on Wednesday, October 9th, Zacks reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.27 per share on Wednesday, January 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, December 13th. This is an increase from Avient’s previous quarterly dividend of $0.26.
Avient has increased its dividend by an average of 6.8% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Avient has a dividend payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Avient to earn $3.02 per share next year, which means the company should continue to be able to cover its $1.03 annual dividend with an expected future payout ratio of 34.1%.
Avient Price Performance
Shares of AVNT opened at $47.98 on Friday. The company has a 50 day moving average price of $47.18 and a 200-day moving average price of $44.98. Avient has a fifty-two week low of $27.73 and a fifty-two week high of $51.51. The stock has a market capitalization of $4.38 billion, a PE ratio of 37.78, a PEG ratio of 1.21 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 0.97.
Analyst Ratings Changes
Separately, Deutsche Bank Aktiengesellschaft upgraded shares of Avient from a “hold” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $52.00 in a research note on Wednesday, August 7th.
Read Our Latest Research Report on AVNT
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.
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