Arizona State Retirement System Increases Stock Position in Avient Co. (NYSE:AVNT)

Arizona State Retirement System lifted its position in Avient Co. (NYSE:AVNTFree Report) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,634 shares of the company’s stock after purchasing an additional 333 shares during the quarter. Arizona State Retirement System’s holdings in Avient were worth $870,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pinebridge Investments L.P. purchased a new position in Avient in the second quarter worth about $32,000. Belpointe Asset Management LLC lifted its stake in shares of Avient by 248.2% in the 1st quarter. Belpointe Asset Management LLC now owns 1,062 shares of the company’s stock valued at $44,000 after purchasing an additional 757 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of Avient by 139.5% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,152 shares of the company’s stock worth $41,000 after purchasing an additional 671 shares during the period. Covestor Ltd increased its position in shares of 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 during the last quarter. Finally, State of Wyoming raised its holdings in Avient by 40.1% during the 2nd quarter. State of Wyoming now owns 1,821 shares of the company’s stock valued at $74,000 after buying an additional 521 shares during the period. 94.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Robert M. Patterson acquired 24,304 shares of the stock in a transaction on Friday, November 17th. The stock was bought at an average cost of $34.55 per share, with a total value of $839,703.20. Following the transaction, the chief executive officer now directly owns 610,897 shares in the company, valued at $21,106,491.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.88% of the company’s stock.

Avient Price Performance

Shares of AVNT stock opened at $36.05 on Wednesday. The stock has a 50 day moving average price of $37.93 and a 200 day moving average price of $36.63. Avient Co. has a 52-week low of $27.73 and a 52-week high of $44.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.40 and a current ratio of 1.88. The firm has a market capitalization of $3.29 billion, a P/E ratio of 5.55, a P/E/G ratio of 6.33 and a beta of 1.50.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft lowered shares of Avient from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $46.00 to $37.00 in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.20.

View Our Latest Report on AVNT

About Avient

(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 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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