Diversified Trust Co Has $559,000 Stock Position in Avient Co. (NYSE:AVNT)

Diversified Trust Co raised its holdings in Avient Co. (NYSE:AVNT) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,671 shares of the company’s stock after purchasing an additional 2,446 shares during the quarter. Diversified Trust Co’s holdings in Avient were worth $559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its stake in Avient by 81.6% during the third quarter. UMB Bank n.a. now owns 663 shares of the company’s stock worth $33,000 after acquiring an additional 298 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Avient by 58.7% during the 3rd quarter. Signaturefd LLC now owns 865 shares of the company’s stock valued at $44,000 after purchasing an additional 320 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Avient by 44.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock worth $50,000 after purchasing an additional 310 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Avient by 35.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,098 shares of the company’s stock valued at $55,000 after acquiring an additional 287 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Avient during the third quarter valued at about $60,000. Institutional investors own 95.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVNT. Oppenheimer upped their price target on Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Seaport Res Ptn downgraded shares of Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company boosted their price objective on Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Avient currently has an average rating of “Moderate Buy” and an average target price of $55.50.

Avient Stock Down 1.6 %

Shares of NYSE AVNT opened at $38.17 on Friday. The business has a 50-day simple moving average of $46.88 and a two-hundred day simple moving average of $46.62. The company has a market cap of $3.49 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.22 and a beta of 1.52. Avient Co. has a 52 week low of $35.50 and a 52 week high of $54.68. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87.

Avient (NYSE:AVNT) last announced its earnings results on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Avient had a net margin of 4.66% and a return on equity of 10.56%. The business had revenue of $815.20 million for the quarter, compared to the consensus estimate of $797.50 million. During the same period last year, the firm posted $0.57 earnings per share. Avient’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts anticipate that Avient Co. will post 2.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Joel R. Rathbun sold 5,762 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $51.45, for a total value of $296,454.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.88% of the company’s stock.

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.