Rowlandmiller & PARTNERS.ADV Lowers Stake in Avient Co. (NYSE:AVNT)

Rowlandmiller & PARTNERS.ADV lowered its stake in shares of Avient Co. (NYSE:AVNT) by 9.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,475 shares of the company’s stock after selling 270 shares during the period. Rowlandmiller & PARTNERS.ADV’s holdings in Avient were worth $101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Signaturefd LLC raised its position in Avient by 58.7% in the 3rd quarter. Signaturefd LLC now owns 865 shares of the company’s stock worth $44,000 after purchasing an additional 320 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Avient by 44.9% in 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 purchased a new position in Avient in the 3rd quarter worth $60,000. Covestor Ltd raised its position in Avient by 185.5% in the 3rd quarter. Covestor Ltd now owns 1,459 shares of the company’s stock worth $73,000 after purchasing an additional 948 shares during the period. Finally, CWM LLC raised its position in Avient by 21.5% in the 3rd quarter. CWM LLC now owns 1,637 shares of the company’s stock worth $82,000 after purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 95.48% of the company’s stock.

Wall Street Analysts Forecast Growth

AVNT has been the topic of a number of analyst reports. Seaport Res Ptn upgraded shares of Avient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Finally, Wells Fargo & Company decreased their price objective on shares of Avient from $59.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $54.00.

Avient Price Performance

AVNT stock opened at $43.45 on Monday. The firm’s 50-day moving average price is $41.97 and its two-hundred day moving average price is $46.36. Avient Co. has a 12-month low of $37.63 and a 12-month high of $54.68. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.26 and a beta of 1.51. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88.

Avient (NYSE:AVNT) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. Avient had a net margin of 5.23% and a return on equity of 10.44%. As a group, equities analysts predict that Avient Co. will post 2.85 earnings per share for the current year.

Avient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Tuesday, March 18th. Avient’s payout ratio is 59.02%.

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.