Thrivent Financial for Lutherans Sells 3,584 Shares of Avient Co. (NYSE:AVNT)

Thrivent Financial for Lutherans lessened its holdings in shares of Avient Co. (NYSE:AVNT) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,035 shares of the company’s stock after selling 3,584 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Avient were worth $3,638,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Cibc World Markets Corp bought a new stake in shares of Avient during the fourth quarter valued at approximately $345,000. Envestnet Portfolio Solutions Inc. increased its holdings in Avient by 4.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,599 shares of the company’s stock valued at $270,000 after acquiring an additional 256 shares during the last quarter. Natixis Advisors LLC lifted its stake in Avient by 4.0% in the 4th quarter. Natixis Advisors LLC now owns 55,775 shares of the company’s stock worth $2,279,000 after purchasing an additional 2,160 shares in the last quarter. Swiss National Bank lifted its stake in Avient by 0.8% in the 4th quarter. Swiss National Bank now owns 179,600 shares of the company’s stock worth $7,338,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Avient by 10.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 11,806 shares of the company’s stock valued at $482,000 after purchasing an additional 1,085 shares during the last quarter. 95.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVNT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company decreased their price objective on Avient from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Seaport Res Ptn raised shares of Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Robert W. Baird initiated coverage on shares of Avient in a research note on Friday, March 14th. They set a “neutral” rating and a $43.00 price target on the stock. Finally, Baird R W raised shares of Avient to a “hold” rating in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Avient presently has an average rating of “Moderate Buy” and a consensus price target of $51.80.

Avient Stock Down 0.5 %

NYSE AVNT opened at $39.52 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. Avient Co. has a 52 week low of $37.49 and a 52 week high of $54.68. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.25 and a beta of 1.43. The company has a fifty day moving average of $42.01 and a two-hundred day moving average of $45.46.

Avient (NYSE:AVNT) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates 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 firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors 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 2.73%. The ex-dividend date of this dividend is Tuesday, March 18th. Avient’s dividend payout ratio is currently 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.