Versor Investments LP Sells 1,645 Shares of Avient Co. (NYSE:AVNT)

Versor Investments LP cut its stake in Avient Co. (NYSE:AVNTFree Report) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,706 shares of the company’s stock after selling 1,645 shares during the period. Versor Investments LP’s holdings in Avient were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Jennison Associates LLC lifted its position in Avient by 15.8% during the 4th quarter. Jennison Associates LLC now owns 1,580,867 shares of the company’s stock valued at $65,717,000 after purchasing an additional 215,709 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Avient by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,229,160 shares of the company’s stock valued at $43,414,000 after buying an additional 88,576 shares during the period. Fifth Third Bancorp boosted its stake in Avient by 42.8% in the fourth quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock valued at $42,000 after acquiring an additional 300 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in Avient by 32.4% during the 3rd quarter. TimesSquare Capital Management LLC now owns 737,577 shares of the company’s stock worth $26,051,000 after acquiring an additional 180,330 shares during the period. Finally, Bailard Inc. acquired a new position in shares of Avient in the 4th quarter valued at $307,000. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Avient Stock Performance

AVNT stock opened at $45.51 on Tuesday. Avient Co. has a 1-year low of $27.73 and a 1-year high of $47.87. The business’s 50-day moving average price is $42.57 and its two-hundred day moving average price is $38.92. The firm has a market cap of $4.15 billion, a PE ratio of 39.57, a P/E/G ratio of 0.98 and a beta of 1.53. The company has a current ratio of 1.90, a quick ratio of 1.42 and a debt-to-equity ratio of 0.89.

Avient (NYSE:AVNTGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. The business had revenue of $829.00 million during the quarter, compared to analyst estimates of $818.45 million. Avient had a return on equity of 9.79% and a net margin of 3.37%. Avient’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. As a group, research analysts forecast that Avient Co. will post 2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Oppenheimer lifted their price objective on Avient from $45.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Stifel Nicolaus boosted their target price on Avient from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company increased their price target on shares of Avient from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Avient currently has an average rating of “Moderate Buy” and a consensus target price of $46.20.

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Avient Profile

(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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Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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