Avient Co. (AVNT) To Go Ex-Dividend on June 21st

Avient Co. (NYSE:AVNT) announced a quarterly dividend on Thursday, May 16th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date 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 every year for the last 12 years. Avient has a dividend payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Avient to earn $2.99 per share next year, which means the company should continue to be able to cover its $1.03 annual dividend with an expected future payout ratio of 34.4%.

Avient Stock Performance

Shares of Avient stock opened at $43.68 on Wednesday. Avient has a one year low of $27.73 and a one year high of $47.87. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 1.21 and a beta of 1.53. The business’s 50 day moving average price is $43.98 and its 200 day moving average price is $40.91. 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 released its quarterly earnings data on Tuesday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. The firm had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $818.45 million. Avient had a net margin of 3.37% and a return on equity of 9.79%. Avient’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share. On average, research analysts predict that Avient will post 2.6 EPS for the current year.

Analyst Upgrades and Downgrades

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