Avient (NYSE:AVNT) Issues Quarterly Earnings Results

by · The Markets Daily

Avient (NYSE:AVNT – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01, Zacks reports. The business had revenue of $806.50 million during 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 company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. Avient updated its FY 2025 guidance to 2.770-2.870 EPS.

Avient Stock Performance

NYSE AVNT traded up $0.00 during trading hours on Wednesday, hitting $31.29. The company’s stock had a trading volume of 1,752,461 shares, compared to its average volume of 648,464. Avient has a 12 month low of $27.86 and a 12 month high of $54.68. The company’s 50 day simple moving average is $33.85 and its two-hundred day simple moving average is $34.46. The company has a market cap of $2.86 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.11 and a beta of 1.41. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.50.

Avient Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 7th. Investors of record on Friday, December 12th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, December 12th. This is a positive change from Avient’s previous quarterly dividend of $0.27. Avient’s dividend payout ratio is 85.94%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. KeyCorp assumed coverage on Avient in a research report on Wednesday, September 17th. They set an “overweight” rating and a $48.00 price objective for the company. Robert W. Baird lowered their price objective on Avient from $43.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, August 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Avient in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.60.

Check Out Our Latest Analysis on AVNT

Institutional Investors Weigh In On Avient

Several large investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co increased its holdings in Avient by 1.0% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 52,636 shares of the company’s stock worth $1,700,000 after buying an additional 518 shares in the last quarter. Royal Bank of Canada increased its holdings in Avient by 1.0% in the 1st quarter. Royal Bank of Canada now owns 128,730 shares of the company’s stock worth $4,782,000 after buying an additional 1,321 shares in the last quarter. Captrust Financial Advisors increased its holdings in Avient by 8.7% in the 2nd quarter. Captrust Financial Advisors now owns 17,249 shares of the company’s stock worth $557,000 after buying an additional 1,385 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Avient by 32.0% in the 2nd quarter. Osaic Holdings Inc. now owns 5,937 shares of the company’s stock worth $198,000 after buying an additional 1,440 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC increased its holdings in Avient by 22.3% in the 2nd quarter. Gallagher Fiduciary Advisors LLC now owns 10,748 shares of the company’s stock worth $347,000 after buying an additional 1,963 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors.

Avient Company Profile

(Get Free Report)

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.

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