Avient (NYSE:AVNT) Hits New 52-Week High at $42.73

Avient Co. (NYSE:AVNT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $42.73 and last traded at $42.58, with a volume of 36306 shares changing hands. The stock had previously closed at $41.79.

Avient Stock Performance

The firm’s 50 day simple moving average is $39.17 and its 200-day simple moving average is $36.92. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.37 and a current ratio of 1.82. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 52.29, a P/E/G ratio of 0.92 and a beta of 1.52.

Avient (NYSE:AVNT) last announced its earnings results on Wednesday, February 14th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Avient had a net margin of 2.41% and a return on equity of 9.26%. The company had revenue of $719.00 million for the quarter, compared to the consensus estimate of $711.87 million. During the same period in the previous year, the business earned $0.39 EPS. The company’s revenue was down 9.0% on a year-over-year basis. Analysts expect that Avient Co. will post 2.53 EPS for the current year.

Avient Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Tuesday, March 19th will be paid a $0.257 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, March 18th. Avient’s dividend payout ratio (DPR) is presently 124.10%.

Hedge Funds Weigh In On Avient

Hedge funds have recently modified their holdings of the stock. Pinebridge Investments L.P. acquired a new position in shares of Avient in the second quarter worth $32,000. Ronald Blue Trust Inc. boosted its holdings in Avient by 139.5% in the third quarter. Ronald Blue Trust Inc. now owns 1,152 shares of the company’s stock worth $41,000 after purchasing an additional 671 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Avient by 42.8% in the fourth quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock worth $42,000 after purchasing an additional 300 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in Avient by 248.2% in the first quarter. Belpointe Asset Management LLC now owns 1,062 shares of the company’s stock worth $44,000 after purchasing an additional 757 shares in the last quarter. Finally, KBC Group NV bought a new stake in Avient in the fourth quarter worth $49,000. 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.