Keybank National Association OH Sells 2,261 Shares of Avient Co. (NYSE:AVNT)

Posted by Defense World Staff on Apr 21st, 2023

Keybank National Association OH reduced its position in Avient Co. (NYSE:AVNT – Get Rating) by 17.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,358 shares of the company’s stock after selling 2,261 shares during the quarter. Keybank National Association OH’s holdings in Avient were worth $350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. grew its stake in Avient by 3.6% during the 3rd quarter. BlackRock Inc. now owns 11,874,799 shares of the company’s stock worth $359,808,000 after buying an additional 417,069 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Avient by 6.3% during the first quarter. Vanguard Group Inc. now owns 9,802,120 shares of the company’s stock worth $470,502,000 after acquiring an additional 583,179 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Avient by 5.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,146,357 shares of the company’s stock valued at $139,981,000 after acquiring an additional 212,670 shares in the last quarter. State Street Corp raised its position in shares of Avient by 4.3% in the 1st quarter. State Street Corp now owns 3,478,276 shares of the company’s stock valued at $167,739,000 after purchasing an additional 142,503 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Avient by 5.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,938,736 shares of the company’s stock worth $141,060,000 after purchasing an additional 147,075 shares in the last quarter. 93.81% of the stock is owned by hedge funds and other institutional investors.

Avient Stock Down 2.1 %

Shares of AVNT stock opened at $39.46 on Friday. Avient Co. has a twelve month low of $27.65 and a twelve month high of $54.77. The stock has a market cap of $3.59 billion, a P/E ratio of 5.12 and a beta of 1.53. The stock has a 50 day moving average of $40.59 and a 200 day moving average of $36.73. The company has a current ratio of 1.81, a quick ratio of 1.38 and a debt-to-equity ratio of 0.93.

Avient (NYSE:AVNT – Get Rating) last posted its earnings results on Wednesday, February 15th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.09. The firm had revenue of $790.40 million during the quarter, compared to analyst estimates of $766.04 million. Avient had a net margin of 16.70% and a return on equity of 14.02%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. As a group, sell-side analysts expect that Avient Co. will post 2.43 EPS for the current year.

Avient Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 6th. Investors of record on Tuesday, March 14th were paid a $0.248 dividend. This represents a $0.99 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Monday, March 13th. This is a positive change from Avient’s previous quarterly dividend of $0.25. Avient’s payout ratio is currently 12.86%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Avient from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 16th. Citigroup lifted their price target on Avient from $41.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Oppenheimer raised Avient from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a report on Thursday, February 16th. Finally, Morgan Stanley lifted their target price on Avient from $34.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, February 23rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

About Avient

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Avient Corp. engages in the business of thermoplastic compounds. It specializes in polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. The firm is also involved in the development and manufacturing of performance enhancing additives, liquid colorants, fluoropolymers, and silicone colorants.

Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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