Mutual of America Capital Management LLC Has $6.03 Million Holdings in Avient Co. (NYSE:AVNT)

Mutual of America Capital Management LLC lowered its position in Avient Co. (NYSE:AVNT) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 138,109 shares of the company’s stock after selling 2,821 shares during the period. Mutual of America Capital Management LLC’s holdings in Avient were worth $6,028,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of Avient during the 1st quarter valued at about $35,000. GAMMA Investing LLC boosted its holdings in shares of Avient by 88.6% during the 2nd quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock worth $35,000 after buying an additional 381 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Avient during the 2nd quarter worth approximately $59,000. Innealta Capital LLC bought a new stake in shares of Avient in the 2nd quarter valued at $119,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Avient during the 1st quarter valued at $133,000. 95.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft upgraded shares of Avient from a “hold” rating to a “buy” rating and raised their price target for the stock from $49.00 to $52.00 in a report on Wednesday, August 7th.

Avient Price Performance

Shares of NYSE:AVNT opened at $48.10 on Friday. Avient Co. has a twelve month low of $27.73 and a twelve month high of $49.47. The stock’s 50 day moving average is $45.97 and its 200-day moving average is $44.13. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 1.14 and a beta of 1.47.

Avient (NYSE:AVNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04. The firm had revenue of $850.00 million for the quarter, compared to the consensus estimate of $841.40 million. Avient had a net margin of 3.70% and a return on equity of 10.34%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share. Sell-side analysts forecast that Avient Co. will post 2.65 EPS for the current fiscal year.

Avient Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.2575 per share. This is a positive change from Avient’s previous quarterly dividend of $0.26. This represents a $1.03 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, September 13th. Avient’s payout ratio is currently 89.57%.

Avient Company 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.