Avient (AVNT) Declares $0.25 Dividend

Avient said on May 11, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($0.99 annualized). Previously, the company paid $0.25 per share.

Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on July 7, 2023.

At the current share price of $38.62 / share, the stock's dividend yield is 2.56%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.36%, the lowest has been 1.57%, and the highest has been 5.32%. The standard deviation of yields is 0.63 (n=237).

The current dividend yield is 0.32 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.14. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.22%, demonstrating that it has increased its dividend over time.

Learn to Harvest Dividends

Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.

What is the Fund Sentiment?

There are 688 funds or institutions reporting positions in Avient. This is a decrease of 12 owner(s) or 1.71% in the last quarter. Average portfolio weight of all funds dedicated to AVNT is 0.36%, an increase of 50.45%. Total shares owned by institutions decreased in the last three months by 0.02% to 110,668K shares. The put/call ratio of AVNT is 1.06, indicating a bearish outlook.

Analyst Price Forecast Suggests 30.98% Upside

As of May 11, 2023, the average one-year price target for Avient is 50.58. The forecasts range from a low of 40.40 to a high of $73.50. The average price target represents an increase of 30.98% from its latest reported closing price of 38.62.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Avient is 3,571MM, an increase of 6.58%. The projected annual non-GAAP EPS is 2.54.

What are Other Shareholders Doing?

Marquard & Bahls holds 4,311K shares representing 4.73% ownership of the company. In it's prior filing, the firm reported owning 4,565K shares, representing a decrease of 5.90%. The firm increased its portfolio allocation in AVNT by 7.33% over the last quarter.

Allspring Global Investments Holdings holds 4,151K shares representing 4.56% ownership of the company. In it's prior filing, the firm reported owning 4,146K shares, representing an increase of 0.12%. The firm increased its portfolio allocation in AVNT by 18.45% over the last quarter.

ESPAX - Wells Fargo Special Small Cap Value Fund holds 3,343K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 3,177K shares, representing an increase of 4.97%. The firm increased its portfolio allocation in AVNT by 8.52% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,758K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 2,680K shares, representing an increase of 2.82%. The firm increased its portfolio allocation in AVNT by 5.88% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 2,640K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 2,495K shares, representing an increase of 5.50%. The firm increased its portfolio allocation in AVNT by 2.91% over the last quarter.

Avient Background Information
(This description is provided by the company.)

Avient Corporation, with 2020 pro forma revenues of $3.8 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world.

This story originally appeared on Fintel.