Sherbrooke Park Advisers LLC Has $391,000 Stock Position in Avient Co. (NYSE:AVNT)

Sherbrooke Park Advisers LLC increased its position in shares of Avient Co. (NYSE:AVNT) by 46.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,558 shares of the company’s stock after buying an additional 3,044 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Avient were worth $391,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Avient by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 10,313,859 shares of the company’s stock worth $421,424,000 after buying an additional 79,661 shares during the period. Dimensional Fund Advisors LP raised its stake in Avient by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,069,093 shares of the company’s stock worth $166,259,000 after buying an additional 90,535 shares during the period. Franklin Resources Inc. raised its stake in Avient by 9.5% during the 4th quarter. Franklin Resources Inc. now owns 3,185,999 shares of the company’s stock worth $130,180,000 after buying an additional 276,357 shares during the period. Jennison Associates LLC raised its stake in 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 during the period. Finally, Victory Capital Management Inc. raised its stake in Avient by 120.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,460,481 shares of the company’s stock worth $59,675,000 after buying an additional 797,112 shares during the period. 95.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVNT has been the topic of a number of research reports. Morgan Stanley dropped their price target on Avient from $51.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, May 12th. Baird R W upgraded Avient to a “hold” rating in a report on Friday, March 14th. Wells Fargo & Company raised their target price on Avient from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Robert W. Baird began coverage on Avient in a report on Friday, March 14th. They issued a “neutral” rating and a $43.00 target price on the stock. Finally, Seaport Res Ptn upgraded Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Avient has a consensus rating of “Moderate Buy” and an average price target of $46.80.

Avient Price Performance

Avient stock opened at $37.78 on Friday. The firm has a market capitalization of $3.46 billion, a P/E ratio of 20.64, a PEG ratio of 1.25 and a beta of 1.38. Avient Co. has a one year low of $27.86 and a one year high of $54.68. The business has a fifty day moving average price of $35.23 and a 200-day moving average price of $41.47. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42.

Avient (NYSE:AVNT) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.01. Avient had a return on equity of 10.44% and a net margin of 5.23%. The firm had revenue of $826.60 million during the quarter, compared to analyst estimates of $834.90 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. As a group, equities research analysts forecast that Avient Co. will post 2.85 EPS for the current year.

Avient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.08 annualized dividend and a dividend yield of 2.86%. Avient’s dividend payout ratio is currently 100.93%.

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.