WCM Investment Management LLC Lowers Holdings in Avient Co. (NYSE:AVNT)

WCM Investment Management LLC lowered its position in shares of Avient Co. (NYSE:AVNT) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 441,237 shares of the company’s stock after selling 8,253 shares during the period. WCM Investment Management LLC’s holdings in Avient were worth $17,702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AVNT. State Street Corp grew its holdings in Avient by 3.0% during the 3rd quarter. State Street Corp now owns 4,231,720 shares of the company’s stock worth $213,977,000 after acquiring an additional 121,349 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Avient by 1.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,057,356 shares of the company’s stock worth $204,166,000 after purchasing an additional 65,452 shares during the period. Geode Capital Management LLC boosted its stake in shares of Avient by 2.0% during the third quarter. Geode Capital Management LLC now owns 2,174,292 shares of the company’s stock valued at $109,431,000 after purchasing an additional 43,249 shares in the last quarter. Jennison Associates LLC increased its holdings in Avient by 7.6% during the fourth quarter. Jennison Associates LLC now owns 1,825,283 shares of the company’s stock valued at $74,581,000 after buying an additional 128,718 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in Avient by 4.3% in the third quarter. Westfield Capital Management Co. LP now owns 1,522,656 shares of the company’s stock worth $76,620,000 after buying an additional 63,138 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors.

Avient Stock Performance

Shares of AVNT opened at $42.11 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. The firm has a market cap of $3.85 billion, a PE ratio of 25.99, a P/E/G ratio of 1.08 and a beta of 1.51. Avient Co. has a 12 month low of $35.86 and a 12 month high of $54.68. The stock has a fifty day moving average price of $43.30 and a 200-day moving average price of $46.44.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company increased their target price on Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Oppenheimer raised their price objective on Avient from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Seaport Res Ptn downgraded shares of Avient from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.50.

Avient 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.