Legacy Wealth Asset Management LLC Cuts Holdings in Avient Co. (NYSE:AVNT)

Legacy Wealth Asset Management LLC decreased its stake in shares of Avient Co. (NYSE:AVNT) by 17.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,911 shares of the company’s stock after selling 2,293 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Avient were worth $446,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in Avient by 35.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,098 shares of the company’s stock worth $55,000 after purchasing an additional 287 shares during the period. CWM LLC increased its holdings in shares of Avient by 21.5% in the 3rd quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $82,000 after acquiring an additional 290 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Avient by 81.6% in the 3rd quarter. UMB Bank n.a. now owns 663 shares of the company’s stock valued at $33,000 after acquiring an additional 298 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Avient by 44.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the company’s stock valued at $50,000 after acquiring an additional 310 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Avient by 58.7% in the 3rd quarter. Signaturefd LLC now owns 865 shares of the company’s stock valued at $44,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 95.48% of the company’s stock.

Insiders Place Their Bets

In other Avient news, SVP Joel R. Rathbun sold 5,762 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $51.45, for a total transaction of $296,454.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.88% of the stock is owned by insiders.

Avient Stock Up 2.4 %

Shares of NYSE AVNT opened at $42.52 on Friday. The stock has a market cap of $3.88 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.52. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. Avient Co. has a 52-week low of $35.50 and a 52-week high of $54.68. The business has a 50-day moving average price of $45.86 and a 200 day moving average price of $46.51.

Avient (NYSE:AVNT) last announced its earnings results on Thursday, October 31st. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $815.20 million during the quarter, compared to analysts’ expectations of $797.50 million. Avient had a return on equity of 10.56% and a net margin of 4.66%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. Equities research analysts forecast that Avient Co. will post 2.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.