Harbor Capital Advisors Inc. Increases Stake in Avient Co. (NYSE:AVNT)

Harbor Capital Advisors Inc. raised its holdings in shares of Avient Co. (NYSE:AVNT) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,033 shares of the company’s stock after purchasing an additional 1,386 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.12% of Avient worth $4,414,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co raised its stake in shares of Avient by 21.8% during the 4th quarter. Diversified Trust Co now owns 13,671 shares of the company’s stock valued at $559,000 after purchasing an additional 2,446 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Avient by 22.4% in the third quarter. JPMorgan Chase & Co. now owns 608,621 shares of the company’s stock worth $30,626,000 after buying an additional 111,489 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Avient by 1.2% in the third quarter. Lord Abbett & CO. LLC now owns 1,515,362 shares of the company’s stock worth $76,253,000 after buying an additional 17,765 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Avient by 15.8% in the third quarter. Tidal Investments LLC now owns 16,592 shares of the company’s stock valued at $835,000 after acquiring an additional 2,261 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in Avient during the third quarter valued at approximately $304,000. Institutional investors own 95.48% of the company’s stock.

Avient Stock Performance

Shares of AVNT stock opened at $38.17 on Friday. The company has a market capitalization of $3.49 billion, a P/E ratio of 23.56, a PEG ratio of 1.22 and a beta of 1.52. Avient Co. has a fifty-two week low of $35.50 and a fifty-two week high of $54.68. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.63. The stock has a 50 day moving average price of $46.88 and a two-hundred day moving average price of $46.62.

Avient (NYSE:AVNT) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The company 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 firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 EPS. Analysts expect that Avient Co. will post 2.66 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on AVNT shares. Oppenheimer boosted their target price on Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. 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, Wells Fargo & Company raised their target price 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.50.

Insider Buying and Selling

In related news, SVP Joel R. Rathbun sold 5,762 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $51.45, for a total value of $296,454.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.88% of the stock is currently owned by insiders.

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.