Johnson Investment Counsel Inc. Acquires 10,550 Shares of Avient Co. (NYSE:AVNT)

Johnson Investment Counsel Inc. grew its holdings in shares of Avient Co. (NYSE:AVNT) by 54.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,090 shares of the company’s stock after purchasing an additional 10,550 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Avient were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AVNT. P2 Capital Partners LLC raised its holdings in Avient by 39.5% in the 1st quarter. P2 Capital Partners LLC now owns 1,401,647 shares of the company’s stock worth $66,256,000 after acquiring an additional 396,800 shares during the period. ProShare Advisors LLC raised its holdings in Avient by 631.8% in the 2nd quarter. ProShare Advisors LLC now owns 230,209 shares of the company’s stock worth $11,317,000 after acquiring an additional 198,750 shares during the period. Nuveen Asset Management LLC raised its holdings in Avient by 16.8% in the 1st quarter. Nuveen Asset Management LLC now owns 1,118,546 shares of the company’s stock worth $52,874,000 after acquiring an additional 160,629 shares during the period. Vanguard Group Inc. raised its holdings in Avient by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 9,265,081 shares of the company’s stock worth $455,472,000 after acquiring an additional 151,250 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Avient by 8.0% in the 1st quarter. Geode Capital Management LLC now owns 1,543,851 shares of the company’s stock worth $72,977,000 after acquiring an additional 114,921 shares during the period. Institutional investors and hedge funds own 91.72% of the company’s stock.

Separately, Zacks Investment Research lowered shares of Avient from a “buy” rating to a “hold” rating in a research report on Monday, October 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $54.44.

AVNT opened at $48.11 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.99 and a quick ratio of 1.55. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.56 and a beta of 1.65. The firm has a 50 day simple moving average of $48.28 and a 200 day simple moving average of $49.16. Avient Co. has a fifty-two week low of $29.85 and a fifty-two week high of $54.21.

Avient (NYSE:AVNT) last issued its earnings results on Thursday, July 29th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.06. Avient had a net margin of 5.19% and a return on equity of 14.75%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was up 102.8% on a year-over-year basis. As a group, analysts expect that Avient Co. will post 3.03 EPS for the current year.

Avient Profile

Avient Corp. engages in the business of thermoplastic compounds. It specializes in polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. The firm is also involved in the development and manufacturing of performance enhancing additives, liquid colorants, fluoropolymers and silicone colorants.

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Institutional Ownership by Quarter for Avient (NYSE:AVNT)

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