Cubist Systematic Strategies LLC increased its stake in shares of Avient Co. (NYSE:AVNT - Free Report) by 146.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,891 shares of the company's stock after purchasing an additional 105,812 shares during the period. Cubist Systematic Strategies LLC owned 0.19% of Avient worth $7,269,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of Avient by 22.4% during the third quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company's stock valued at $30,626,000 after acquiring an additional 111,489 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Avient during the 4th quarter worth $8,344,000. Xponance Inc. increased its stake in shares of Avient by 5.3% during the 4th quarter. Xponance Inc. now owns 12,942 shares of the company's stock valued at $529,000 after acquiring an additional 656 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Avient by 3.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,076 shares of the company's stock worth $1,719,000 after acquiring an additional 1,295 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Avient by 2.4% during the fourth quarter. Wells Fargo & Company MN now owns 276,810 shares of the company's stock worth $11,310,000 after purchasing an additional 6,609 shares during the last quarter. Hedge funds and other institutional investors own 95.48% of the company's stock.
Avient Stock Up 0.1%
NYSE AVNT traded up $0.05 during trading hours on Tuesday, reaching $39.06. 182,325 shares of the company traded hands, compared to its average volume of 547,201. The stock has a market capitalization of $3.58 billion, a PE ratio of 21.34, a PEG ratio of 1.25 and a beta of 1.38. The company has a current ratio of 1.88, a quick ratio of 1.42 and a debt-to-equity ratio of 0.88. Avient Co. has a 12 month low of $27.86 and a 12 month high of $54.68. The company has a 50 day moving average of $35.48 and a two-hundred day moving average of $41.72.
Avient (NYSE:AVNT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.01. The firm had revenue of $826.60 million for the quarter, compared to analysts' expectations of $834.90 million. Avient had a return on equity of 10.44% and a net margin of 5.23%. Avient's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 earnings per share. As a group, equities analysts expect that Avient Co. will post 2.85 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on AVNT shares. Baird R W upgraded Avient to a "hold" rating in a report on Friday, March 14th. Seaport Res Ptn raised shares of Avient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Robert W. Baird assumed coverage on shares of Avient in a research report on Friday, March 14th. They set a "neutral" rating and a $43.00 price target on the stock. Wells Fargo & Company lifted their target price on shares of Avient from $39.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Morgan Stanley lowered their price target on Avient from $51.00 to $41.00 and set an "equal weight" rating for the company in a report on Monday. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Avient currently has a consensus rating of "Moderate Buy" and an average price target of $46.80.
Get Our Latest Analysis on Avient
Avient Company Profile
(
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 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.
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