Hantz Financial Services Inc. Lowers Stock Holdings in Avient Co. (NYSE:AVNT)

Hantz Financial Services Inc. lowered its stake in Avient Co. (NYSE:AVNT) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,543 shares of the company’s stock after selling 3,660 shares during the period. Hantz Financial Services Inc. owned approximately 0.06% of Avient worth $2,392,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVNT. Millennium Management LLC lifted its holdings in shares of Avient by 836.9% in the 2nd quarter. Millennium Management LLC now owns 480,227 shares of the company’s stock valued at $20,962,000 after buying an additional 428,971 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Avient by 120.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 784,178 shares of the company’s stock worth $39,460,000 after acquiring an additional 428,624 shares during the period. State Street Corp raised its stake in shares of 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 buying an additional 121,349 shares during the last quarter. Barclays PLC lifted its stake in Avient by 221.7% in the 3rd quarter. Barclays PLC now owns 173,002 shares of the company’s stock valued at $8,706,000 after buying an additional 119,229 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Avient by 22.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company’s stock valued at $30,626,000 after purchasing an additional 111,489 shares during the last quarter. 95.48% of the stock is owned by hedge funds and other institutional investors.

Avient Price Performance

Shares of NYSE AVNT opened at $43.90 on Friday. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.06 and a beta of 1.52. The business has a 50-day moving average of $44.43 and a 200-day moving average of $46.54. Avient Co. has a 1-year low of $35.58 and a 1-year high of $54.68. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.21.

Avient (NYSE:AVNT) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $815.20 million during the quarter, compared to analyst estimates of $797.50 million. Avient had a net margin of 4.66% and a return on equity of 10.56%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. On average, equities analysts anticipate that Avient Co. will post 2.65 EPS for the current fiscal year.

Insider Activity

In related news, SVP Joel R. Rathbun sold 5,762 shares of the company’s 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 document filed with the SEC, which can be accessed through this link. Company insiders own 1.88% of the company’s stock.

Analyst Ratings Changes

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

About Avient

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.