Avient Co. (AVNT) To Go Ex-Dividend on March 18th

Avient Co. (NYSE:AVNT) announced a quarterly dividend on Monday, February 10th,RTT News reports. Shareholders of record on Tuesday, March 18th will be paid a dividend of 0.27 per share on Friday, April 4th. This represents a $1.08 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Tuesday, March 18th.

Avient has raised its dividend by an average of 6.0% annually over the last three years. Avient has a payout ratio of 32.3% meaning its dividend is sufficiently covered by earnings. Equities research 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

Shares of NYSE:AVNT opened at $42.25 on Wednesday. The firm’s 50 day simple moving average is $42.93 and its 200 day simple moving average is $46.39. Avient has a fifty-two week low of $35.86 and a fifty-two week high of $54.68. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 1.08 and a beta of 1.51. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.21.

Wall Street Analyst Weigh In

AVNT has been the subject of a number of research reports. 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 price target on shares of Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Avient has an average rating of “Moderate Buy” and an average price target of $55.50.

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.