US Bancorp DE Grows Position in Avient Co. (NYSE:AVNT)

US Bancorp DE boosted its holdings in Avient Co. (NYSE:AVNTGet Rating) by 135.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,025 shares of the company’s stock after acquiring an additional 9,808 shares during the quarter. US Bancorp DE’s holdings in Avient were worth $516,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Truist Financial Corp raised its position in Avient by 0.7% in the second quarter. Truist Financial Corp now owns 335,988 shares of the company’s stock worth $13,467,000 after acquiring an additional 2,369 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Avient in the third quarter valued at $688,000. Chartwell Investment Partners LLC increased its position in shares of Avient by 22.1% in the second quarter. Chartwell Investment Partners LLC now owns 39,458 shares of the company’s stock valued at $1,581,000 after buying an additional 7,149 shares in the last quarter. Bank of America Corp DE increased its position in shares of Avient by 8.8% in the first quarter. Bank of America Corp DE now owns 754,190 shares of the company’s stock valued at $36,201,000 after buying an additional 60,828 shares in the last quarter. Finally, Sciencast Management LP increased its position in shares of Avient by 39.8% in the second quarter. Sciencast Management LP now owns 12,128 shares of the company’s stock valued at $518,000 after buying an additional 3,451 shares in the last quarter. Hedge funds and other institutional investors own 93.81% of the company’s stock.

Avient Stock Up 3.5 %

Shares of NYSE:AVNT opened at $38.59 on Monday. The stock’s 50-day moving average price is $34.77 and its two-hundred day moving average price is $37.16. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 1.44. Avient Co. has a 12-month low of $27.65 and a 12-month high of $55.44. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 18.92 and a beta of 1.49.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AVNT. Oppenheimer cut Avient from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 28th. TheStreet cut Avient from a “b-” rating to a “c+” rating in a research report on Monday, October 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on Avient from $40.00 to $35.00 in a research report on Thursday, November 3rd. Citigroup lifted their price objective on Avient from $32.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, December 15th. Finally, Morgan Stanley dropped their price objective on Avient from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.14.

Avient Profile

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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.

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Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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