Avient (NYSE:AVNT) Posts Earnings Results, Beats Expectations By $0.01 EPS

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

Avient Trading Up 0.0%

Avient stock traded up $0.00 during trading on Wednesday, reaching $31.29. 1,723,907 shares of the company were exchanged, compared to its average volume of 647,362. Avient has a 52-week low of $27.86 and a 52-week high of $54.68. The company has a market capitalization of $2.86 billion, a P/E ratio of 24.45, a PEG 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. The stock’s 50 day simple moving average is $33.85 and its two-hundred day simple moving average is $34.46.

Avient Increases Dividend

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

Hedge Funds Weigh In On Avient

A number of institutional investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co lifted its position in Avient by 1.0% during the second 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 lifted its position in Avient by 1.0% during the first 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 lifted its position in Avient by 8.7% during the second 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. lifted its position in Avient by 32.0% during the second 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 lifted its position in Avient by 22.3% during the second 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. Hedge funds and other institutional investors own 95.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVNT. KeyCorp assumed coverage on Avient in a research note on Wednesday, September 17th. They issued an “overweight” rating and a $48.00 price target for the company. Robert W. Baird dropped their target price on Avient from $43.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday, August 4th. Finally, Weiss Ratings reiterated 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, three have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently 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.