Avient Corporation $AVNT Shares Sold by Homestead Advisers Corp

Homestead Advisers Corp lowered its holdings in Avient Corporation (NYSE:AVNT) by 47.6% during the third quarter, Holdings Channel reports. The fund owned 96,827 shares of the company’s stock after selling 87,900 shares during the quarter. Homestead Advisers Corp’s holdings in Avient were worth $3,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AVNT. Cullen Capital Management LLC acquired a new position in shares of Avient in the 3rd quarter valued at about $492,000. AlphaQuest LLC lifted its holdings in Avient by 35.9% in the third quarter. AlphaQuest LLC now owns 29,823 shares of the company’s stock valued at $983,000 after acquiring an additional 7,871 shares during the period. Arizona State Retirement System boosted its position in Avient by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 27,085 shares of the company’s stock worth $892,000 after purchasing an additional 372 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Avient by 7.0% during the 3rd quarter. New York State Common Retirement Fund now owns 1,084,382 shares of the company’s stock worth $35,730,000 after purchasing an additional 71,354 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Avient by 54.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 967 shares of the company’s stock valued at $32,000 after purchasing an additional 340 shares in the last quarter. 95.48% of the stock is owned by hedge funds and other institutional investors.

Avient Stock Up 4.9%

Avient stock opened at $39.22 on Thursday. The stock’s fifty day simple moving average is $33.11 and its 200-day simple moving average is $33.20. The company has a current ratio of 2.03, a quick ratio of 1.47 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $3.59 billion, a P/E ratio of 31.89, a P/E/G ratio of 1.25 and a beta of 1.44. Avient Corporation has a twelve month low of $27.48 and a twelve month high of $44.78.

Avient (NYSE:AVNT) last issued its earnings results on Wednesday, November 5th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $806.50 million during the quarter, compared to the consensus estimate of $823.57 million. Avient had a net margin of 3.49% and a return on equity of 10.75%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, equities analysts expect that Avient Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AVNT shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Avient in a report on Monday, December 29th. Oppenheimer upped their target price on Avient from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. KeyCorp lifted their price target on shares of Avient from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Finally, Zacks Research raised shares of Avient from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.50.

Avient Profile

Avient Corporation (NYSE: AVNT) is a global provider of specialized and sustainable polymer materials, delivering color, additive and engineered solutions to a wide range of industries. The company’s core offerings include masterbatches, colorant systems, compounds and resins designed to enhance performance, aesthetics and environmental sustainability. Avient serves markets such as packaging, automotive, consumer goods, healthcare, electronics, and agriculture, tailoring products to meet stringent regulatory and end-use requirements.

Formed through a corporate rebranding in 2020 following the divestiture of PolyOne’s specialty businesses, Avient traces its heritage to a legacy of polymer innovation spanning decades.