Point72 DIFC Ltd Invests $60,000 in Avient Co. (NYSE:AVNT)

Point72 DIFC Ltd bought a new stake in Avient Co. (NYSE:AVNT) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,198 shares of the company’s stock, valued at approximately $60,000.

Several other large investors have also modified their holdings of AVNT. GAMMA Investing LLC boosted its holdings in shares of Avient by 35.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,098 shares of the company’s stock valued at $55,000 after buying an additional 287 shares during the period. CWM LLC lifted its holdings in Avient by 21.5% in the third quarter. CWM LLC now owns 1,637 shares of the company’s stock worth $82,000 after acquiring an additional 290 shares during the last quarter. UMB Bank n.a. boosted its stake in Avient by 81.6% in the third quarter. UMB Bank n.a. now owns 663 shares of the company’s stock valued at $33,000 after acquiring an additional 298 shares during the period. Signaturefd LLC grew its holdings in shares of Avient by 58.7% during the third quarter. Signaturefd LLC now owns 865 shares of the company’s stock valued at $44,000 after purchasing an additional 320 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Avient by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 25,527 shares of the company’s stock worth $1,114,000 after purchasing an additional 474 shares during the period. Institutional investors own 95.48% of the company’s stock.

Insider Buying and Selling at Avient

In other Avient news, SVP Joel R. Rathbun sold 5,762 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $51.45, for a total value of $296,454.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AVNT. Wells Fargo & Company boosted their price objective on Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Seaport Res Ptn downgraded shares of Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Oppenheimer increased their price objective on shares of Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Avient has a consensus rating of “Moderate Buy” and a consensus target price of $55.50.

Avient Trading Down 0.1 %

Shares of NYSE AVNT opened at $49.80 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. Avient Co. has a 12 month low of $35.50 and a 12 month high of $54.68. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 30.74, a P/E/G ratio of 1.28 and a beta of 1.50. The business has a fifty day simple moving average of $49.86 and a 200-day simple moving average of $46.92.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $815.20 million for the quarter, compared to analysts’ expectations of $797.50 million. Avient had a net margin of 4.66% and a return on equity of 10.56%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. Sell-side analysts predict that Avient Co. will post 2.66 EPS for the current year.

Avient Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 13th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Avient’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 2.17%. Avient’s dividend payout ratio (DPR) is presently 63.58%.

Avient 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.