Invesco Ltd. Grows Stock Holdings in Avient Co. (NYSE:AVNT)

Invesco Ltd. increased its stake in shares of Avient Co. (NYSE:AVNT) by 15.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 333,517 shares of the company’s stock after purchasing an additional 44,065 shares during the period. Invesco Ltd. owned approximately 0.37% of Avient worth $16,396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVNT. Advisory Services Network LLC purchased a new position in shares of Avient during the second quarter valued at approximately $25,000. USA Financial Portformulas Corp purchased a new stake in Avient during the second quarter valued at approximately $60,000. Captrust Financial Advisors increased its holdings in Avient by 735.2% during the first quarter. Captrust Financial Advisors now owns 1,921 shares of the company’s stock valued at $91,000 after buying an additional 1,691 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Avient by 2,406.9% during the second quarter. Rockefeller Capital Management L.P. now owns 2,181 shares of the company’s stock valued at $107,000 after buying an additional 2,094 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV purchased a new stake in Avient during the second quarter valued at approximately $122,000. 91.80% of the stock is owned by hedge funds and other institutional investors.

AVNT opened at $59.41 on Thursday. The firm has a market cap of $5.44 billion, a P/E ratio of 19.94, a PEG ratio of 1.99 and a beta of 1.66. Avient Co. has a 1-year low of $36.36 and a 1-year high of $61.46. The company has a 50 day simple moving average of $52.36 and a two-hundred day simple moving average of $50.57. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.92 and a quick ratio of 1.43.

Avient (NYSE:AVNT) last posted its quarterly earnings results on Wednesday, October 27th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.16 billion. Avient had a net margin of 5.97% and a return on equity of 15.67%. The company’s revenue was up 31.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. Equities analysts anticipate that Avient Co. will post 3.01 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 7th. Shareholders of record on Friday, December 17th will be given a $0.237 dividend. This is a positive change from Avient’s previous quarterly dividend of $0.21. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Thursday, December 16th. Avient’s dividend payout ratio is presently 28.52%.

In related news, SVP Lisa K. Kunkle sold 11,447 shares of the company’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $60.22, for a total transaction of $689,338.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.45% of the company’s stock.

Separately, Zacks Investment Research raised shares of Avient from a “sell” rating to a “hold” rating in a report on Monday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Avient presently has a consensus rating of “Buy” and a consensus price target of $54.44.

Avient Profile

Avient Corp. engages in the business of thermoplastic compounds. It specializes in polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. The firm is also involved in the development and manufacturing of performance enhancing additives, liquid colorants, fluoropolymers and silicone colorants.

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Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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