Avient (NYSE:AVNT) Sets New 52-Week Low – Time to Sell?

Avient Co. (NYSE:AVNT) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $37.15 and last traded at $37.38, with a volume of 121722 shares changing hands. The stock had previously closed at $38.33.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Avient from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, February 14th. Robert W. Baird began coverage on shares of Avient in a research report on Friday, March 14th. They issued a “neutral” rating and a $43.00 price target for the company. Baird R W upgraded shares of Avient to a “hold” rating in a report on Friday, March 14th. Wells Fargo & Company dropped their price objective on shares of Avient from $59.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, Seaport Res Ptn upgraded shares of Avient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.80.

Avient Price Performance

The stock’s fifty day moving average is $41.78 and its 200-day moving average is $45.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42. The stock has a market capitalization of $3.37 billion, a P/E ratio of 20.16, a PEG ratio of 1.25 and a beta of 1.43.

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

Avient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Tuesday, March 18th. Avient’s dividend payout ratio is 59.02%.

Institutional Investors Weigh In On Avient

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted 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 valued at $421,424,000 after purchasing an additional 79,661 shares during the period. State Street Corp raised its stake in Avient by 3.0% during the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company’s stock valued at $213,977,000 after purchasing an additional 121,349 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Avient by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,069,093 shares of the company’s stock worth $166,259,000 after purchasing an additional 90,535 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of 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 purchasing an additional 276,357 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Avient by 2.0% in the third quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company’s stock valued at $109,431,000 after buying an additional 43,249 shares during the period. 95.48% of the stock is owned by institutional investors and hedge funds.

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.