Avient Co. (NYSE:AVNT) Sees Significant Increase in Short Interest

Avient Co. (NYSE:AVNT) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,170,000 shares, a growth of 17.0% from the February 29th total of 999,900 shares. Based on an average trading volume of 448,900 shares, the short-interest ratio is presently 2.6 days. Currently, 1.3% of the company’s shares are short sold.

Avient Trading Down 0.5 %

Shares of Avient stock traded down $0.23 during trading on Tuesday, hitting $42.75. The stock had a trading volume of 211,328 shares, compared to its average volume of 432,172. Avient has a 12 month low of $27.73 and a 12 month high of $43.73. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.82 and a quick ratio of 1.37. The firm’s fifty day simple moving average is $39.42 and its 200-day simple moving average is $36.99. The stock has a market cap of $3.90 billion, a PE ratio of 51.81, a PEG ratio of 0.96 and a beta of 1.53.

Avient (NYSE:AVNT) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Avient had a net margin of 2.41% and a return on equity of 9.26%. The company had revenue of $719.00 million for the quarter, compared to analyst estimates of $711.87 million. During the same period in the prior year, the company posted $0.39 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, sell-side analysts expect that Avient will post 2.53 EPS for the current fiscal year.

Avient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Tuesday, March 19th will be given a $0.257 dividend. This represents a $1.03 annualized dividend and a yield of 2.40%. The ex-dividend date is Monday, March 18th. Avient’s dividend payout ratio (DPR) is presently 124.10%.

Institutional Trading of Avient

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. bought a new position in shares of Avient in the second quarter worth about $32,000. Ronald Blue Trust Inc. grew its stake in Avient by 139.5% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,152 shares of the company’s stock worth $41,000 after acquiring an additional 671 shares in the last quarter. Fifth Third Bancorp grew its stake in Avient by 42.8% in the 4th quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock worth $42,000 after acquiring an additional 300 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of Avient by 248.2% during the first quarter. Belpointe Asset Management LLC now owns 1,062 shares of the company’s stock worth $44,000 after acquiring an additional 757 shares during the period. Finally, KBC Group NV bought a new stake in shares of Avient during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 95.48% of the company’s stock.

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.