Avient Co. (NYSE:AVNT) Stock Position Increased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC boosted its position in Avient Co. (NYSE:AVNT) by 16.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,133 shares of the company’s stock after purchasing an additional 3,078 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Avient were worth $904,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC increased its stake in Avient by 836.9% during the 2nd quarter. Millennium Management LLC now owns 480,227 shares of the company’s stock valued at $20,962,000 after buying an additional 428,971 shares during the period. Assenagon Asset Management S.A. increased its stake in Avient by 120.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 784,178 shares of the company’s stock valued at $39,460,000 after buying an additional 428,624 shares during the period. State Street Corp increased its stake in Avient by 3.0% during the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company’s stock valued at $213,977,000 after buying an additional 121,349 shares during the period. Barclays PLC increased its stake in Avient by 221.7% during the 3rd quarter. Barclays PLC now owns 173,002 shares of the company’s stock valued at $8,706,000 after buying an additional 119,229 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Avient by 22.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company’s stock valued at $30,626,000 after buying an additional 111,489 shares during the period. 95.48% of the stock is currently owned by institutional investors.

Insider Transactions at Avient

In other news, SVP Joel R. Rathbun sold 5,762 shares of Avient stock in a transaction that occurred on 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 SEC, which can be accessed through the SEC website. 1.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on AVNT. Oppenheimer raised their target price on shares of Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Seaport Res Ptn cut shares of Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Avient from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

Avient Stock Performance

Shares of AVNT opened at $42.64 on Monday. The firm’s 50 day moving average is $45.00 and its 200-day moving average is $46.59. The stock has a market capitalization of $3.90 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.06 and a beta of 1.52. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.21. Avient Co. has a 12-month low of $35.58 and a 12-month high of $54.68.

Avient (NYSE:AVNT) last released its earnings results on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $815.20 million for the quarter, compared to the consensus estimate of $797.50 million. Avient had a net margin of 4.66% and a return on equity of 10.56%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. Equities research analysts anticipate that Avient Co. will post 2.65 EPS for the current fiscal year.

Avient Profile

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.