Dynamic Technology Lab Private Ltd Makes New $993,000 Investment in Avient Co. (NYSE:AVNT)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Avient Co. (NYSE:AVNT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,311 shares of the company’s stock, valued at approximately $993,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC raised its position in shares of Avient by 288.0% in the 3rd quarter. FMR LLC now owns 26,138 shares of the company’s stock valued at $1,315,000 after purchasing an additional 19,401 shares during the last quarter. Captrust Financial Advisors increased its stake in Avient by 20.4% during the 3rd quarter. Captrust Financial Advisors now owns 18,331 shares of the company’s stock valued at $922,000 after purchasing an additional 3,111 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Avient in the third quarter worth $253,000. Point72 Asset Management L.P. lifted its stake in shares of Avient by 112.4% during the third quarter. Point72 Asset Management L.P. now owns 151,953 shares of the company’s stock worth $7,646,000 after buying an additional 80,414 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Avient during the third quarter valued at $60,000. 95.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Avient Price Performance

Shares of NYSE AVNT opened at $30.44 on Friday. 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 firm’s 50 day simple moving average is $41.01 and its 200-day simple moving average is $44.90. Avient Co. has a 12 month low of $28.96 and a 12 month high of $54.68. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.25 and a beta of 1.41.

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

Avient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.08 dividend on an annualized basis and a yield of 3.55%. Avient’s dividend payout ratio is currently 59.02%.

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.