Cibc World Markets Corp Buys Shares of 8,453 Avient Co. (NYSE:AVNT)

Cibc World Markets Corp purchased a new position in shares of Avient Co. (NYSE:AVNT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,453 shares of the company’s stock, valued at approximately $345,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AVNT. Choreo LLC increased its stake in Avient by 4.3% during the 4th quarter. Choreo LLC now owns 5,812 shares of the company’s stock worth $237,000 after purchasing an additional 238 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Avient by 56.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 695 shares of the company’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Avient by 4.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company’s stock worth $270,000 after acquiring an additional 256 shares during the period. Janney Montgomery Scott LLC lifted its position in Avient by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company’s stock valued at $227,000 after acquiring an additional 258 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake 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. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Trading Up 3.5 %

NYSE AVNT opened at $39.72 on Tuesday. Avient Co. has a 12 month low of $37.49 and a 12 month high of $54.68. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average of $42.02 and a 200-day moving average of $45.50. The company has a market cap of $3.63 billion, a PE ratio of 21.71, a PEG ratio of 1.25 and a beta of 1.43.

Avient (NYSE:AVNT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.49 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%. On average, equities research analysts anticipate that Avient Co. will post 2.85 EPS for the current fiscal year.

Avient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.08 annualized dividend and a yield of 2.72%. Avient’s dividend payout ratio is 59.02%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AVNT shares. Baird R W upgraded Avient to a “hold” rating in a report on Friday, March 14th. Wells Fargo & Company cut their target price on Avient from $59.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft upped their price target on Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Seaport Res Ptn raised shares of Avient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, Robert W. Baird started coverage on shares of Avient in a report on Friday, March 14th. They set a “neutral” rating and a $43.00 target price for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.80.

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.