New York State Common Retirement Fund Increases Position in Avient Corporation $AVNT

New York State Common Retirement Fund raised its holdings in shares of Avient Corporation (NYSE:AVNT) by 7.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,084,382 shares of the company’s stock after purchasing an additional 71,354 shares during the period. New York State Common Retirement Fund’s holdings in Avient were worth $35,730,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AVNT. Parkside Financial Bank & Trust increased its position in Avient by 54.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 967 shares of the company’s stock valued at $32,000 after buying an additional 340 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Avient during the second quarter valued at approximately $37,000. DekaBank Deutsche Girozentrale purchased a new position in Avient in the 2nd quarter worth approximately $45,000. Signaturefd LLC lifted its position in Avient by 39.1% in the 2nd quarter. Signaturefd LLC now owns 1,630 shares of the company’s stock valued at $53,000 after acquiring an additional 458 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Avient by 55.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,209 shares of the company’s stock valued at $71,000 after purchasing an additional 787 shares during the last quarter. 95.48% of the stock is owned by institutional investors.

Avient Stock Performance

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

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Oppenheimer upped their price target on Avient from $37.00 to $41.00 and gave the company 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 company an “overweight” rating in a research note on Friday, January 9th. Zacks Research upgraded shares of Avient from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Finally, Weiss Ratings restated 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 assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

Avient 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.