Avient (NYSE:AVNT) Issues Earnings Results

Avient (NYSE:AVNT) announced its quarterly earnings data on Wednesday. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01, Zacks reports. The company had revenue of $806.50 million for the quarter, compared to analyst estimates of $823.57 million. Avient had a return on equity of 10.57% and a net margin of 3.65%.The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. Avient updated its FY 2025 guidance to 2.770-2.870 EPS.

Avient Stock Performance

Shares of NYSE:AVNT traded down $0.41 during trading on Thursday, hitting $30.88. 37,791 shares of the company traded hands, compared to its average volume of 646,890. The company has a quick ratio of 1.50, a current ratio of 2.03 and a debt-to-equity ratio of 0.85. The business’s fifty day moving average is $33.73 and its 200-day moving average is $34.44. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.11 and a beta of 1.41. Avient has a one year low of $27.86 and a one year high of $53.61.

Avient Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Stockholders of record on Friday, December 12th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.6%. This is a boost from Avient’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, December 12th. Avient’s dividend payout ratio is currently 85.94%.

Hedge Funds Weigh In On Avient

Hedge funds and other institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co lifted its position in Avient by 1.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 52,636 shares of the company’s stock worth $1,700,000 after purchasing an additional 518 shares during the period. Royal Bank of Canada lifted its position in Avient by 1.0% in the first quarter. Royal Bank of Canada now owns 128,730 shares of the company’s stock worth $4,782,000 after purchasing an additional 1,321 shares during the period. Captrust Financial Advisors lifted its position in Avient by 8.7% in the second quarter. Captrust Financial Advisors now owns 17,249 shares of the company’s stock worth $557,000 after purchasing an additional 1,385 shares during the period. Osaic Holdings Inc. lifted its position in Avient by 32.0% in the second quarter. Osaic Holdings Inc. now owns 5,937 shares of the company’s stock worth $198,000 after purchasing an additional 1,440 shares during the period. Finally, Gallagher Fiduciary Advisors LLC lifted its position in Avient by 22.3% in the second quarter. Gallagher Fiduciary Advisors LLC now owns 10,748 shares of the company’s stock worth $347,000 after purchasing an additional 1,963 shares during the period. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVNT. Robert W. Baird lowered their price target on Avient from $43.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday, August 4th. KeyCorp started coverage on Avient in a report on Wednesday, September 17th. They set an “overweight” rating and a $48.00 target price on the stock. Oppenheimer reissued an “outperform” rating on shares of Avient in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Avient in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.60.

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.