Avient Co. (NYSE:AVNT) to Issue Quarterly Dividend of $0.27

Avient Co. (NYSE:AVNT) declared a quarterly dividend on Monday, February 10th,RTT News reports. Investors of record on Tuesday, March 18th will be given a dividend of 0.27 per share on Friday, April 4th. This represents a $1.08 dividend on an annualized basis and a yield of 2.57%.

Avient has raised its dividend by an average of 6.0% per year over the last three years. Avient has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Avient to earn $2.87 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 37.6%.

Avient Stock Performance

NYSE AVNT opened at $41.99 on Tuesday. The firm’s 50 day simple moving average is $43.11 and its 200 day simple moving average is $46.42. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 1.08 and a beta of 1.51. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. Avient has a 1 year low of $35.86 and a 1 year high of $54.68.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Seaport Res Ptn cut Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company increased their target price on shares of Avient from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Oppenheimer upped their price objective on shares of Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

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.