US Bancorp DE Acquires 2,708 Shares of Avient Co. (NYSE:AVNT)

US Bancorp DE lifted its position in Avient Co. (NYSE:AVNT) by 51.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,019 shares of the company’s stock after purchasing an additional 2,708 shares during the quarter. US Bancorp DE’s holdings in Avient were worth $394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Avient in the 1st quarter worth about $32,000. USA Financial Portformulas Corp purchased a new position in shares of Avient in the 2nd quarter worth about $60,000. First Horizon Advisors Inc. boosted its holdings in shares of Avient by 82.2% in the 1st quarter. First Horizon Advisors Inc. now owns 1,441 shares of the company’s stock worth $68,000 after purchasing an additional 650 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Avient by 735.2% in the 1st quarter. Captrust Financial Advisors now owns 1,921 shares of the company’s stock worth $91,000 after purchasing an additional 1,691 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Avient by 3,125.3% in the 1st quarter. IFP Advisors Inc now owns 2,419 shares of the company’s stock worth $114,000 after purchasing an additional 2,344 shares in the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.

Shares of AVNT stock opened at $46.99 on Wednesday. The stock has a market capitalization of $4.29 billion, a PE ratio of 19.34, a P/E/G ratio of 1.56 and a beta of 1.65. Avient Co. has a 1-year low of $24.26 and a 1-year high of $54.21. The business has a 50-day moving average of $48.43 and a 200 day moving average of $49.31. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.99 and a quick ratio of 1.55.

Avient (NYSE:AVNT) last issued its earnings results on Thursday, July 29th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Avient had a return on equity of 14.75% and a net margin of 5.19%. Avient’s quarterly revenue was up 102.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. Analysts anticipate that Avient Co. will post 3.03 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 7th. Investors of record on Friday, September 17th will be issued a dividend of $0.213 per share. This represents a $0.85 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, September 16th. Avient’s dividend payout ratio is presently 49.13%.

About Avient

Avient Corp. engages in the business of thermoplastic compounds. It specializes in polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. The firm is also involved in the development and manufacturing of performance enhancing additives, liquid colorants, fluoropolymers and silicone colorants.

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Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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