Avient Co. (NYSE:AVNT) Announces $0.26 Quarterly Dividend

Avient Co. (NYSE:AVNT) declared a quarterly dividend on Thursday, May 16th, Zacks reports. Shareholders of record on Friday, June 21st will be paid a dividend of 0.257 per share on Wednesday, July 10th. This represents a $1.03 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, June 21st.

Avient has raised its dividend by an average of 6.8% per year over the last three years and has raised its dividend annually for the last 12 consecutive years.

Avient Trading Up 0.9 %

Shares of AVNT traded up $0.40 during mid-day trading on Friday, reaching $46.06. 436,359 shares of the company were exchanged, compared to its average volume of 498,637. The business has a 50 day simple moving average of $42.97 and a two-hundred day simple moving average of $39.21. Avient has a 52 week low of $27.73 and a 52 week high of $47.87. The stock has a market capitalization of $4.20 billion, a PE ratio of 40.05, a PEG ratio of 0.98 and a beta of 1.53. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42 and a current ratio of 1.90.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $818.45 million. Avient had a net margin of 3.37% and a return on equity of 9.79%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. On average, analysts predict that Avient will post 2.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AVNT shares. Stifel Nicolaus increased their price target on Avient from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Wells Fargo & Company boosted their target price on Avient from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, Oppenheimer raised their price objective on Avient from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.20.

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.