Avient Corporation (NYSE:AVNT) Short Interest Up 55.5% in December

Avient Corporation (NYSE:AVNT) was the target of a large growth in short interest in December. As of December 15th, there was short interest totaling 2,296,925 shares, a growth of 55.5% from the November 30th total of 1,477,307 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average trading volume of 779,521 shares, the days-to-cover ratio is currently 2.9 days. Based on an average trading volume of 779,521 shares, the days-to-cover ratio is currently 2.9 days. Currently, 2.5% of the company’s stock are sold short.

Institutional Investors Weigh In On Avient

Several institutional investors and hedge funds have recently bought and sold shares of AVNT. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Avient by 75.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 318 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Avient by 54.2% in the third quarter. Parkside Financial Bank & Trust now owns 967 shares of the company’s stock worth $32,000 after buying an additional 340 shares during the period. ARK Investment Management LLC lifted its stake in Avient by 18.3% in the second quarter. ARK Investment Management LLC now owns 2,286 shares of the company’s stock valued at $74,000 after buying an additional 354 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Avient by 1.4% during the third quarter. Arizona State Retirement System now owns 27,085 shares of the company’s stock valued at $892,000 after acquiring an additional 372 shares during the period. Finally, F m Investments LLC grew its position in shares of Avient by 0.4% during the second quarter. F m Investments LLC now owns 93,028 shares of the company’s stock worth $3,006,000 after acquiring an additional 413 shares during the last quarter. Institutional investors and hedge funds own 95.48% of the company’s stock.

Avient Stock Up 1.3%

NYSE:AVNT opened at $31.77 on Monday. The stock has a 50-day simple moving average of $30.70 and a 200 day simple moving average of $32.98. Avient has a one year low of $27.48 and a one year high of $44.78. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.47 and a current ratio of 2.03.

Avient (NYSE:AVNT) last issued its earnings results on Wednesday, November 5th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $806.50 million during the quarter, compared to analyst estimates of $823.57 million. Avient had a return on equity of 10.75% and a net margin of 3.49%.The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. Avient has set its FY 2025 guidance at 2.770-2.870 EPS. Sell-side analysts predict that Avient will post 2.85 EPS for the current fiscal year.

Avient Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 7th. Shareholders of record on Friday, December 12th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Avient’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, December 12th. Avient’s dividend payout ratio is currently 89.43%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVNT. Oppenheimer reissued an “outperform” rating and set a $37.00 price target on shares of Avient in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Avient in a research note on Monday, December 22nd. Zacks Research raised shares of Avient from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Finally, KeyCorp began coverage on shares of Avient in a report on Wednesday, September 17th. They issued an “overweight” rating and a $48.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

About Avient

Avient Corporation (NYSE: AVNT) is a global provider of specialized and sustainable polymer materials, delivering color, additive and engineered solutions to a wide range of industries. The company’s core offerings include masterbatches, colorant systems, compounds and resins designed to enhance performance, aesthetics and environmental sustainability. Avient serves markets such as packaging, automotive, consumer goods, healthcare, electronics, and agriculture, tailoring products to meet stringent regulatory and end-use requirements.

Formed through a corporate rebranding in 2020 following the divestiture of PolyOne’s specialty businesses, Avient traces its heritage to a legacy of polymer innovation spanning decades.