Wipfli Financial Advisors LLC Invests $26,000 in Avient Co. (NYSE:AVNT)

Wipfli Financial Advisors LLC bought a new position in Avient Co. (NYSE:AVNTGet Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 844 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds have also modified their holdings of AVNT. EverSource Wealth Advisors LLC acquired a new stake in Avient during the 2nd quarter valued at $25,000. Arcadia Investment Management Corp MI acquired a new stake in Avient during the 2nd quarter valued at $25,000. Lazard Asset Management LLC increased its holdings in Avient by 104.2% during the 2nd quarter. Lazard Asset Management LLC now owns 686 shares of the company’s stock valued at $27,000 after purchasing an additional 350 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Avient by 565.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,172 shares of the company’s stock valued at $46,000 after purchasing an additional 996 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Avient by 123.1% during the 1st quarter. Covestor Ltd now owns 1,187 shares of the company’s stock valued at $57,000 after purchasing an additional 655 shares in the last quarter. 93.81% of the stock is owned by institutional investors and hedge funds.

Avient Stock Up 3.5 %

NYSE:AVNT opened at $38.59 on Friday. Avient Co. has a 12-month low of $27.65 and a 12-month high of $55.44. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $3.51 billion, a P/E ratio of 18.92 and a beta of 1.49. The stock’s fifty day simple moving average is $34.77 and its 200-day simple moving average is $37.17.

Avient (NYSE:AVNTGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02). Avient had a return on equity of 16.11% and a net margin of 4.08%. The company had revenue of $823.30 million during the quarter, compared to the consensus estimate of $850.82 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts expect that Avient Co. will post 2.9 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Robert W. Baird raised their price target on Avient from $35.00 to $44.00 in a report on Tuesday, December 20th. TheStreet cut Avient from a “b-” rating to a “c+” rating in a report on Monday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on Avient from $40.00 to $35.00 in a research report on Thursday, November 3rd. Morgan Stanley decreased their price objective on Avient from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. Finally, Wells Fargo & Company increased their price objective on Avient from $33.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.14.

Avient Profile

(Get Rating)

Avient Corporation provides specialized formulator, services, and sustainable material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates through three segments: Color, Additives and Inks; Specialty Engineered Materials; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks.

Further Reading

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Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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