Avient Co. (NYSE:AVNT) Declares Quarterly Dividend of $0.27

by · The Cerbat Gem

Avient Co. (NYSE:AVNT – Get Free Report) announced a quarterly dividend on Wednesday, October 9th, Zacks reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.27 per share on Wednesday, January 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, December 13th. This is an increase from Avient’s previous quarterly dividend of $0.26.

Avient has increased its dividend by an average of 6.8% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Avient has a dividend payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Avient to earn $3.02 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 34.1%.

Avient Price Performance

Shares of AVNT opened at $47.98 on Friday. The company has a 50 day moving average price of $47.18 and a 200-day moving average price of $44.98. Avient has a fifty-two week low of $27.73 and a fifty-two week high of $51.51. The stock has a market capitalization of $4.38 billion, a PE ratio of 37.78, a PEG ratio of 1.21 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 0.97.

Avient (NYSE:AVNT – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. Avient had a net margin of 3.70% and a return on equity of 10.34%. The company had revenue of $850.00 million during the quarter, compared to analysts’ expectations of $841.40 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Avient’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities analysts predict that Avient will post 2.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Read Our Latest Research Report on AVNT

Avient Company Profile

(Get Free Report)

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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