Orion Portfolio Solutions LLC Has $700,000 Holdings in Avient Co. (NYSE:AVNT)

Orion Portfolio Solutions LLC decreased its stake in shares of Avient Co. (NYSE:AVNT) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,136 shares of the company’s stock after selling 573 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Avient were worth $700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in Avient during the 4th quarter valued at $50,548,000. Victory Capital Management Inc. boosted its holdings in Avient by 120.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,460,481 shares of the company’s stock worth $59,675,000 after purchasing an additional 797,112 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Avient during the fourth quarter worth about $8,344,000. JPMorgan Chase & Co. increased its stake in Avient by 29.8% in the 4th quarter. JPMorgan Chase & Co. now owns 790,097 shares of the company’s stock valued at $32,283,000 after buying an additional 181,476 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Avient by 7.6% during the 4th quarter. Jennison Associates LLC now owns 1,825,283 shares of the company’s stock worth $74,581,000 after buying an additional 128,718 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Stock Down 6.3 %

Avient stock opened at $30.44 on Monday. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 1.25 and a beta of 1.41. Avient Co. has a 1-year low of $28.96 and a 1-year 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 firm has a 50 day simple moving average of $41.01 and a 200 day simple moving average of $44.88.

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

Avient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Tuesday, March 18th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Tuesday, March 18th. Avient’s dividend payout ratio is currently 59.02%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Seaport Res Ptn upgraded Avient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on shares of Avient from $59.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Avient from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Robert W. Baird assumed coverage on shares of Avient in a research note on Friday, March 14th. They set a “neutral” rating and a $43.00 price target for the company. Finally, Baird R W upgraded Avient to a “hold” rating in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.80.

Avient 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 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.