Avient Co. (NYSE:AVNT) to Issue Quarterly Dividend of $0.26

Avient Co. (NYSE:AVNT) declared a quarterly dividend on Thursday, July 11th, Wall Street Journal reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.2575 per share on Wednesday, October 9th. This represents a $1.03 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, September 13th. This is an increase from Avient’s previous quarterly dividend of $0.26.

Avient has raised its dividend payment 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 34.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.9 %

Shares of NYSE:AVNT opened at $45.02 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 0.61. Avient has a 52-week low of $27.73 and a 52-week high of $49.47. The business has a 50-day moving average price of $45.30 and a 200-day moving average price of $43.84. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 1.12 and a beta of 1.47.

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

Analyst Upgrades and Downgrades

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

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.