Phocas Financial Corp. Reduces Position in Avient Co. (NYSE:AVNT)

Phocas Financial Corp. decreased its stake in shares of Avient Co. (NYSE:AVNT) by 85.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,123 shares of the company’s stock after selling 148,729 shares during the quarter. Phocas Financial Corp.’s holdings in Avient were worth $1,067,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. Creative Planning increased its position in shares of Avient by 35.8% during the third quarter. Creative Planning now owns 35,545 shares of the company’s stock worth $1,789,000 after purchasing an additional 9,378 shares in the last quarter. Raymond James & Associates raised its position in Avient by 2.0% during the third quarter. Raymond James & Associates now owns 50,484 shares of the company’s stock valued at $2,540,000 after acquiring an additional 1,013 shares in the last quarter. Signaturefd LLC boosted its holdings in Avient by 58.7% during the third quarter. Signaturefd LLC now owns 865 shares of the company’s stock worth $44,000 after buying an additional 320 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Avient by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 10,560 shares of the company’s stock valued at $531,000 after acquiring an additional 715 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in Avient by 109.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 106,647 shares of the company’s stock worth $5,366,000 after purchasing an additional 55,823 shares during the period. Hedge funds and other institutional investors own 95.48% of the company’s stock.

Avient Price Performance

Shares of Avient stock opened at $43.18 on Wednesday. The stock has a market capitalization of $3.95 billion, a P/E ratio of 23.59, a PEG ratio of 1.25 and a beta of 1.51. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. Avient Co. has a twelve month low of $37.63 and a twelve month high of $54.68. The business’s fifty day moving average price is $41.84 and its 200 day moving average price is $46.33.

Avient (NYSE:AVNT) last announced its earnings results on Thursday, February 13th. The company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. Avient had a return on equity of 10.44% and a net margin of 5.23%. As a group, research analysts anticipate that Avient Co. will post 2.85 earnings per share for the current year.

Avient Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.08 annualized dividend and a yield of 2.50%. Avient’s dividend payout ratio (DPR) is 59.02%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Avient from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Seaport Res Ptn upgraded shares of Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price target on shares of Avient from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $54.00.

Avient Company 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.