Hantz Financial Services Inc. Has $2.38 Million Stock Holdings in Avient Corporation $AVNT

Hantz Financial Services Inc. boosted its holdings in shares of Avient Corporation (NYSE:AVNT) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,798 shares of the company’s stock after buying an additional 2,429 shares during the period. Hantz Financial Services Inc. owned approximately 0.08% of Avient worth $2,384,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC raised its holdings in Avient by 24.6% during the first quarter. Intech Investment Management LLC now owns 97,359 shares of the company’s stock worth $3,618,000 after buying an additional 19,223 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Avient by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 969,159 shares of the company’s stock worth $36,014,000 after acquiring an additional 15,737 shares in the last quarter. Strs Ohio bought a new stake in shares of Avient in the 1st quarter worth $7,804,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Avient in the 1st quarter worth $230,000. Finally, Swedbank AB bought a new stake in shares of Avient in the 1st quarter worth $37,160,000. Institutional investors and hedge funds own 95.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVNT. Robert W. Baird reduced their target price on shares of Avient from $43.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Avient in a research note on Wednesday, October 8th. Finally, KeyCorp began coverage on shares of Avient in a research note on Wednesday, September 17th. They issued an “overweight” rating and a $48.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Avient has an average rating of “Moderate Buy” and a consensus target price of $43.60.

Avient Price Performance

AVNT opened at $32.04 on Friday. The firm has a market cap of $2.93 billion, a P/E ratio of 25.03, a PEG ratio of 1.11 and a beta of 1.41. The firm has a 50-day moving average of $34.08 and a 200 day moving average of $34.41. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.50 and a current ratio of 2.03. Avient Corporation has a fifty-two week low of $27.86 and a fifty-two week high of $54.68.

Avient (NYSE:AVNT) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $866.50 million during the quarter, compared to analyst estimates of $852.98 million. Avient had a net margin of 3.65% and a return on equity of 10.57%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. On average, research analysts expect that Avient Corporation will post 2.85 EPS for the current year.

Avient Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders 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 yield of 3.4%. 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 payout ratio is currently 85.94%.

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.