Massachusetts Financial Services Co. MA Has $60.60 Million Stock Holdings in Avient Co. (NYSE:AVNT)

Massachusetts Financial Services Co. MA grew its position in shares of Avient Co. (NYSE:AVNT - Free Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,457,723 shares of the company's stock after purchasing an additional 29,591 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.60% of Avient worth $60,598,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Avient by 15.8% in the 4th quarter. Jennison Associates LLC now owns 1,580,867 shares of the company's stock valued at $65,717,000 after purchasing an additional 215,709 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Avient by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,160 shares of the company's stock valued at $43,414,000 after acquiring an additional 88,576 shares during the last quarter. Fifth Third Bancorp grew its holdings in Avient by 42.8% during the 4th quarter. Fifth Third Bancorp now owns 1,001 shares of the company's stock worth $42,000 after acquiring an additional 300 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of Avient by 32.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 737,577 shares of the company's stock worth $26,051,000 after purchasing an additional 180,330 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Avient in the 4th quarter valued at about $307,000. 95.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on AVNT shares. Stifel Nicolaus boosted their price objective on Avient from $49.00 to $53.00 and gave the company a "buy" rating in a report on Wednesday, May 8th. Wells Fargo & Company boosted their price target on Avient from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Wednesday, May 8th. Finally, Oppenheimer upped their price target on Avient from $45.00 to $49.00 and gave the company an "outperform" rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $46.20.

Avient Stock Performance

AVNT traded up $0.40 on Friday, hitting $46.06. 436,359 shares of the company's stock were exchanged, compared to its average volume of 462,947. The company has a current ratio of 1.90, a quick ratio of 1.42 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average of $42.97 and a two-hundred day moving average of $39.21. Avient Co. has a twelve month low of $27.73 and a twelve month high of $47.87. The firm has a market cap of $4.20 billion, a PE ratio of 40.05, a P/E/G ratio of 0.98 and a beta of 1.53.

Avient (NYSE:AVNT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.07. Avient had a return on equity of 9.79% and a net margin of 3.37%. The business had revenue of $829.00 million for the quarter, compared to analysts' expectations of $818.45 million. During the same period in the prior year, the firm earned $0.63 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. On average, research analysts anticipate that Avient Co. will post 2.61 earnings per share for the current fiscal year.

Avient Company 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.