ARK Investment Management LLC reduced its stake in Avient Co. (NYSE:AVNT – Free Report) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,326 shares of the company’s stock after selling 352 shares during the quarter. ARK Investment Management LLC’s holdings in Avient were worth $180,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in AVNT. Pinebridge Investments L.P. acquired a new stake in Avient during the 2nd quarter worth approximately $32,000. Ronald Blue Trust Inc. lifted its holdings in Avient by 139.5% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,152 shares of the company’s stock worth $41,000 after buying an additional 671 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in Avient by 248.2% during the 1st quarter. Belpointe Asset Management LLC now owns 1,062 shares of the company’s stock worth $44,000 after buying an additional 757 shares in the last quarter. Covestor Ltd lifted its holdings in Avient by 123.1% during the 1st quarter. Covestor Ltd now owns 1,187 shares of the company’s stock worth $57,000 after buying an additional 655 shares in the last quarter. Finally, State of Wyoming lifted its holdings in Avient by 40.1% during the 2nd quarter. State of Wyoming now owns 1,821 shares of the company’s stock worth $74,000 after buying an additional 521 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.
Avient Price Performance
Avient stock opened at $42.98 on Thursday. The firm has a market cap of $3.92 billion, a PE ratio of 51.78, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52. Avient Co. has a 52-week low of $27.73 and a 52-week high of $42.99. The company has a quick ratio of 1.37, a current ratio of 1.82 and a debt-to-equity ratio of 0.89. The company’s 50 day moving average is $39.03 and its two-hundred day moving average is $36.88.
Avient Dividend Announcement
The company 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 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, March 18th. Avient’s dividend payout ratio is presently 124.10%.
Avient Profile
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.
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