Arcadia Investment Management Corp MI Sells 505 Shares of Avient Co. (NYSE:AVNT)

Arcadia Investment Management Corp MI decreased its position in Avient Co. (NYSE:AVNT) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,105 shares of the company’s stock after selling 505 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Avient were worth $290,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Avient by 3.0% in the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company’s stock worth $213,977,000 after acquiring an additional 121,349 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Avient by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company’s stock worth $109,431,000 after acquiring an additional 43,249 shares in the last quarter. Jennison Associates LLC grew its position in Avient by 7.6% during the fourth quarter. Jennison Associates LLC now owns 1,825,283 shares of the company’s stock valued at $74,581,000 after buying an additional 128,718 shares during the period. Westfield Capital Management Co. LP grew its position in Avient by 4.3% during the third quarter. Westfield Capital Management Co. LP now owns 1,522,656 shares of the company’s stock valued at $76,620,000 after buying an additional 63,138 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in Avient by 1.2% during the third quarter. Lord Abbett & CO. LLC now owns 1,515,362 shares of the company’s stock valued at $76,253,000 after buying an additional 17,765 shares during the period. Institutional investors own 95.48% of the company’s stock.

Wall Street Analyst Weigh In

AVNT has been the subject of several research reports. Seaport Res Ptn upgraded shares of Avient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Wells Fargo & Company reduced 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Avient from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $54.00.

Avient Price Performance

NYSE AVNT opened at $43.98 on Friday. The company has a market cap of $4.02 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51. Avient Co. has a 52 week low of $37.63 and a 52 week high of $54.68. The company has a quick ratio of 1.42, a current ratio of 1.88 and a debt-to-equity ratio of 0.88. The firm’s 50-day simple moving average is $42.05 and its two-hundred day simple moving average is $46.31.

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

Avient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.46%. The ex-dividend date is Tuesday, March 18th. Avient’s dividend payout ratio (DPR) is presently 59.02%.

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.