Avient Corporation (NYSE:AVNT) Short Interest Up 55.5% in December

Avient Corporation (NYSE:AVNT) was the target of a significant increase in short interest in the month of 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 volume of 779,521 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.5% of the company’s stock are sold short. Approximately 2.5% of the company’s stock are sold short. Based on an average daily volume of 779,521 shares, the days-to-cover ratio is presently 2.9 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AVNT shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Avient in a report on Monday. Oppenheimer reiterated an “outperform” rating and issued a $37.00 target price on shares of Avient in a report on Thursday, November 6th. KeyCorp assumed coverage on Avient in a research note on Wednesday, September 17th. They set an “overweight” rating and a $48.00 target price for the company. Finally, Zacks Research raised Avient from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Avient presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Avient Stock Performance

NYSE:AVNT opened at $31.49 on Wednesday. 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 price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The business’s fifty day moving average price is $30.68 and its 200 day moving average price is $32.94.

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

Avient Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.5%. This is a positive change from Avient’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, December 12th. Avient’s dividend payout ratio is currently 89.43%.

Institutional Trading of Avient

Several institutional investors have recently modified their holdings of AVNT. Northwestern Mutual Wealth Management Co. grew its position in shares of Avient by 75.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 318 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Avient in the third quarter valued at $29,000. Parkside Financial Bank & Trust grew its holdings in shares of Avient by 54.2% during the third quarter. Parkside Financial Bank & Trust now owns 967 shares of the company’s stock worth $32,000 after purchasing an additional 340 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Avient during the second quarter worth about $37,000. Finally, Danske Bank A S acquired a new stake in shares of Avient during the third quarter worth about $40,000. Hedge funds and other 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.