Teacher Retirement System of Texas Sells 2,087 Shares of Avient Co. (NYSE:AVNT)

Teacher Retirement System of Texas lessened its stake in Avient Co. (NYSE:AVNTFree Report) by 7.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,728 shares of the company’s stock after selling 2,087 shares during the period. Teacher Retirement System of Texas’ holdings in Avient were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Avient by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,334,501 shares of the company’s stock worth $365,015,000 after buying an additional 176,273 shares during the last quarter. Channing Capital Management LLC grew its stake in shares of Avient by 6.7% during the fourth quarter. Channing Capital Management LLC now owns 2,099,894 shares of the company’s stock worth $87,293,000 after acquiring an additional 131,406 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Avient by 14.1% during the third quarter. American Century Companies Inc. now owns 1,819,796 shares of the company’s stock valued at $64,275,000 after acquiring an additional 224,810 shares in the last quarter. Jennison Associates LLC raised its position in shares of Avient by 15.8% in the 4th quarter. Jennison Associates LLC now owns 1,580,867 shares of the company’s stock valued at $65,717,000 after purchasing an additional 215,709 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Avient by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,253,146 shares of the company’s stock worth $52,093,000 after purchasing an additional 23,986 shares during the last quarter. 95.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Stifel Nicolaus lifted their price objective on shares of Avient from $49.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Oppenheimer boosted their price target on Avient from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company increased their price objective on Avient from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Avient presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.20.

View Our Latest Stock Analysis on Avient

Avient Price Performance

NYSE:AVNT opened at $45.57 on Wednesday. The firm’s fifty day moving average is $43.13 and its two-hundred day moving average is $39.50. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 0.99 and a beta of 1.53. Avient Co. has a one year low of $27.73 and a one year high of $47.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42 and a current ratio of 1.90.

Avient (NYSE:AVNTGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. Avient had a return on equity of 9.79% and a net margin of 3.37%. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $818.45 million. During the same period last year, the company earned $0.63 earnings per share. Avient’s revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts expect that Avient Co. will post 2.61 EPS for the current year.

Avient Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 21st will be issued a dividend of $0.257 per share. This represents a $1.03 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, June 21st. Avient’s dividend payout ratio (DPR) is presently 89.57%.

Avient Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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