Arizona State Retirement System cut its stake in Avient Co. (NYSE:AVNT – Free Report) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,301 shares of the company’s stock after selling 2,050 shares during the period. Arizona State Retirement System’s holdings in Avient were worth $994,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC increased its holdings in shares of Avient by 248.2% during the first quarter. Belpointe Asset Management LLC now owns 1,062 shares of the company’s stock valued at $44,000 after purchasing an additional 757 shares during the period. Covestor Ltd increased its holdings in shares of Avient by 123.1% during the first quarter. Covestor Ltd now owns 1,187 shares of the company’s stock valued at $57,000 after purchasing an additional 655 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Avient during the first quarter valued at $56,000. Ronald Blue Trust Inc. increased its holdings in shares of Avient by 55.5% during the first quarter. Ronald Blue Trust Inc. now owns 1,990 shares of the company’s stock valued at $67,000 after purchasing an additional 710 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Avient during the first quarter valued at $110,000. 94.91% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Morgan Stanley reiterated an “equal weight” rating and issued a $40.00 price target on shares of Avient in a research report on Tuesday, August 1st.
Avient Stock Performance
Shares of NYSE AVNT opened at $31.62 on Wednesday. Avient Co. has a 12 month low of $27.65 and a 12 month high of $44.74. The company has a market cap of $2.88 billion, a P/E ratio of 5.00, a P/E/G ratio of 1.71 and a beta of 1.56. The business’s 50 day moving average is $35.50 and its two-hundred day moving average is $37.95. The company has a quick ratio of 1.48, a current ratio of 1.95 and a debt-to-equity ratio of 0.93.
Avient Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a $0.257 dividend. This is a positive change from Avient’s previous quarterly dividend of $0.25. The ex-dividend date is Thursday, December 14th. This represents a $1.03 annualized dividend and a yield of 3.25%. Avient’s payout ratio is currently 15.64%.
Insiders Place Their Bets
In other Avient news, SVP Joel R. Rathbun sold 6,743 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $38.98, for a total value of $262,842.14. Following the transaction, the senior vice president now owns 5,334 shares of the company’s stock, valued at $207,919.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.88% of the company’s stock.
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 specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks.
Featured Stories
- Five stocks we like better than Avient
- What is the Australian Securities Exchange (ASX)
- Caterpillar crawls into a new buying opportunity
- The Most Important Warren Buffett Stock for Investors: His Own
- Is there merit in these low-beta moat stocks? Analysts say yes
- How to Read Stock Charts for Beginners
- Oil swings have led analysts to recommend these 2 stocks
Receive News & Ratings for Avient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avient and related companies with MarketBeat.com's FREE daily email newsletter.
