Infrastructure Capital Advisors LLC Takes $201,000 Position in Avient Co. (NYSE:AVNT)

Infrastructure Capital Advisors LLC acquired a new stake in Avient Co. (NYSE:AVNT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,990 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in shares of Avient by 81.6% in the third quarter. UMB Bank n.a. now owns 663 shares of the company’s stock valued at $33,000 after buying an additional 298 shares during the period. GAMMA Investing LLC increased its stake in shares of Avient by 88.6% in the second quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock valued at $35,000 after buying an additional 381 shares during the period. Signaturefd LLC increased its stake in shares of Avient by 58.7% in the third quarter. Signaturefd LLC now owns 865 shares of the company’s stock valued at $44,000 after buying an additional 320 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Avient in the second quarter valued at approximately $59,000. Finally, Covestor Ltd increased its stake in shares of Avient by 185.5% in the third 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 period. Institutional investors and hedge funds own 95.48% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Joel R. Rathbun sold 5,762 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total value of $296,454.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.88% of the company’s stock.

Avient Price Performance

Avient stock opened at $51.28 on Friday. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 1.32 and a beta of 1.48. Avient Co. has a 52-week low of $33.87 and a 52-week high of $54.68. The stock’s 50 day moving average price is $49.68 and its two-hundred day moving average price is $46.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.63.

Avient (NYSE:AVNT) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $815.20 million for the quarter, compared to analysts’ expectations of $797.50 million. Avient had a return on equity of 10.56% and a net margin of 4.66%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 EPS. On average, equities analysts predict that Avient Co. will post 2.66 earnings per share for the current year.

Avient Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Avient’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, December 13th. Avient’s dividend payout ratio is presently 63.58%.

Analyst Ratings Changes

AVNT has been the subject of several recent research reports. Oppenheimer upped their price objective on Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised shares of Avient from a “hold” rating to a “buy” rating and increased their target price for the company from $49.00 to $52.00 in a research report on Wednesday, August 7th. Wells Fargo & Company increased their target price on shares of Avient from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Seaport Res Ptn downgraded shares of Avient from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.50.

About Avient

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.