Short Interest in Avient Corporation (NYSE:AVNT) Rises By 55.5%

Avient Corporation (NYSE:AVNT) saw a large increase in short interest in December. As of December 15th, there was short interest totaling 2,296,925 shares, an increase of 55.5% from the November 30th total of 1,477,307 shares. Based on an average daily trading volume, of 779,521 shares, the days-to-cover ratio is presently 2.9 days. Currently, 2.5% of the company’s stock are short sold. Currently, 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 779,521 shares, the days-to-cover ratio is presently 2.9 days.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $37.00 price objective on shares of Avient in a report on Thursday, November 6th. KeyCorp initiated coverage on Avient in a research note on Wednesday, September 17th. They set an “overweight” rating and a $48.00 price target for the company. Zacks Research upgraded Avient from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Avient in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.50.

Avient Stock Performance

AVNT stock traded down $0.11 on Tuesday, reaching $31.51. 232,542 shares of the company were exchanged, compared to its average volume of 666,013. The stock’s fifty day moving average price is $30.69 and its 200 day moving average price is $32.95. Avient has a 12 month low of $27.48 and a 12 month high of $44.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 1.47. The firm has a market capitalization of $2.88 billion, a PE ratio of 25.60, a PEG ratio of 1.14 and a beta of 1.46.

Avient (NYSE:AVNT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Avient had a return on equity of 10.75% and a net margin of 3.49%.The firm had revenue of $806.50 million for the quarter, compared to analyst estimates of $823.57 million. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Avient has set its FY 2025 guidance at 2.770-2.870 EPS. On average, research analysts anticipate that Avient will post 2.85 EPS for the current fiscal year.

Avient Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 7th. Stockholders of record on Friday, December 12th will be paid a $0.275 dividend. The ex-dividend date is Friday, December 12th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Avient’s previous quarterly dividend of $0.27. Avient’s dividend payout ratio is currently 89.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Avient by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,753,848 shares of the company’s stock valued at $156,637,000 after purchasing an additional 62,926 shares during the period. Alliancebernstein L.P. grew its position in Avient by 9.1% in the first quarter. Alliancebernstein L.P. now owns 3,118,170 shares of the company’s stock valued at $115,871,000 after acquiring an additional 260,670 shares during the period. Geode Capital Management LLC raised its stake in Avient by 0.9% during the second quarter. Geode Capital Management LLC now owns 2,252,855 shares of the company’s stock worth $72,797,000 after acquiring an additional 19,813 shares in the last quarter. Channing Capital Management LLC lifted its holdings in shares of Avient by 19.1% during the third quarter. Channing Capital Management LLC now owns 2,095,821 shares of the company’s stock valued at $69,057,000 after acquiring an additional 335,670 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Avient by 27.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,729,925 shares of the company’s stock valued at $57,001,000 after purchasing an additional 376,667 shares in the last quarter. Institutional investors own 95.48% of the company’s stock.

About Avient

Avient Corporation (NYSE: AVNT) is a global provider of specialized and sustainable polymer materials, delivering color, additive and engineered solutions to a wide range of industries. The company’s core offerings include masterbatches, colorant systems, compounds and resins designed to enhance performance, aesthetics and environmental sustainability. Avient serves markets such as packaging, automotive, consumer goods, healthcare, electronics, and agriculture, tailoring products to meet stringent regulatory and end-use requirements.

Formed through a corporate rebranding in 2020 following the divestiture of PolyOne’s specialty businesses, Avient traces its heritage to a legacy of polymer innovation spanning decades.