Great Lakes Advisors LLC Reduces Holdings in Avient Corporation $AVNT

Great Lakes Advisors LLC decreased its position in shares of Avient Corporation (NYSE:AVNT) by 48.6% in the 3rd quarter, Holdings Channel reports. The fund owned 116,684 shares of the company’s stock after selling 110,487 shares during the quarter. Great Lakes Advisors LLC’s holdings in Avient were worth $3,845,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Avient during the second quarter valued at about $36,767,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Avient by 27.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,729,925 shares of the company’s stock valued at $57,001,000 after buying an additional 376,667 shares in the last quarter. Scopus Asset Management L.P. bought a new position in Avient in the 2nd quarter worth approximately $8,908,000. The Manufacturers Life Insurance Company grew its stake in Avient by 21.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,288,581 shares of the company’s stock valued at $41,634,000 after buying an additional 231,102 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its holdings in Avient by 396.4% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 239,419 shares of the company’s stock valued at $7,736,000 after acquiring an additional 191,184 shares during the period. 95.48% of the stock is currently owned by institutional investors.

Avient Price Performance

Shares of Avient stock opened at $36.23 on Friday. The firm has a market capitalization of $3.32 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.20 and a beta of 1.44. The company has a current ratio of 2.03, a quick ratio of 1.47 and a debt-to-equity ratio of 0.83. Avient Corporation has a 12 month low of $27.48 and a 12 month high of $44.78. The business’s 50-day moving average price is $32.65 and its 200-day moving average price is $33.10.

Avient (NYSE:AVNT) last issued its earnings results on Wednesday, November 5th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $806.50 million during the quarter, compared to analyst estimates of $823.57 million. Avient had a return on equity of 10.75% and a net margin of 3.49%.Avient’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Avient has set its FY 2025 guidance at 2.770-2.870 EPS. Sell-side analysts forecast that Avient Corporation will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

AVNT has been the subject of a number of analyst reports. Oppenheimer raised their price target on Avient from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. KeyCorp upped their target price on shares of Avient from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Zacks Research upgraded shares of Avient from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Avient in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

Avient Company 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.