SG Americas Securities LLC acquires 1,162 shares of Avient Co. (NYSE:AVNT)

SG Americas Securities LLC grew its holdings in Avient Co. (NYSE:AVNT – Free Report) by 21.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,660 shares of the company’s stock after acquiring an additional 1,162 shares during the period. SG Americas Securities LLC’s holdings in Avient were worth $291,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the company. Linden Thomas Advisory Services LLC boosted its stake in Avient by 8.0% in the second quarter. Linden Thomas Advisory Services LLC now owns 16,645 shares of the company’s stock valued at $727,000 after buying an additional 1,235 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Avient by 318.6% during the second quarter. Harbor Capital Advisors Inc. now owns 50,824 shares of the company’s stock valued at $2,218,000 after purchasing an additional 38,683 shares during the last quarter. GAMMA Investing LLC raised its position in Avient by 88.6% in the 2nd quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock worth $35,000 after acquiring an additional 381 shares in the last quarter. Tidal Investments LLC boosted its holdings in Avient by 2.1% in the first quarter. Tidal Investments LLC now owns 12,877 shares of the company’s stock worth $559,000 after purchasing an additional 259 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its stake in shares of Avient by 1.7% in the first quarter. Kennedy Capital Management LLC now owns 433,177 shares of the company’s stock valued at $18,800,000 after buying an additional 7,260 shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company’s shares.

Changes in Analyst Ratings

Several brokerages have issued reports on AVNT. Wells Fargo & Company upped their target price on shares of Avient from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft raised Avient from a “hold” rating to a “buy” rating and boosted their price target for the company from $49.00 to $52.00 in a research note on Wednesday, August 7th. . Finally, Stifel Nicolaus boosted their target price on shares of Avient from $49.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th.

See the latest inventory analysis on Avient

Avient Trading Down 0.1%

Shares of Avient opened at $46.71 on Friday. Avient Co. it has a 52-week low of $27.73 and a 52-week high of $47.87. The stock has a 50 day moving average price of $44.16 and a two hundred day moving average price of $42.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42, and a current ratio of 1.90. The stock has a market cap of $4.26 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47.

Avient (NYSE:AVNT – Get Your Free Report ) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. Avient had a net margin of 3.37% and a return on equity of 9.79%. The firm had revenue of $850.00 million for the quarter, compared to analyst estimates of $841.40 million. During the same period last year, the company earned $0.63 per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Avient Co. will post 2.61 earnings per share for the current fiscal year.

Avient increases dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 13th will be issued a $0.2575 dividend. This represents a dividend of $1.03 on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, September 13. This is a positive change from Avient’s previous quarterly dividend of $0.26. Avient’s dividend payout ratio (DPR) is currently 89.57%.

Avient profile

(Free report)

Avient Corporation operates as a materials solutions formulator in the United States, Canada, Mexico, Europe, South America and Asia. It operates on two segments, Color, Additives and Inks; and specialty engineering materials. The Colors, Additives and Inks segment offers customized color concentrates and additives in solid and liquid form for thermoplastic materials, dispersions for thermosets and specialty inks; custom formulated liquid system such as polyester, vinyl, natural rubber and latex, polyurethane and silicone; and proprietary inks.

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