WCM Investment Management LLC Decreases Stake in Avient Co. (NYSE:AVNT)

WCM Investment Management LLC cut its position in shares of Avient Co. (NYSE:AVNT) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 441,237 shares of the company’s stock after selling 8,253 shares during the period. WCM Investment Management LLC owned approximately 0.48% of Avient worth $17,702,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AVNT. Choreo LLC boosted its position in shares of Avient by 4.3% during the 4th quarter. Choreo LLC now owns 5,812 shares of the company’s stock valued at $237,000 after acquiring an additional 238 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Avient by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company’s stock valued at $227,000 after purchasing an additional 258 shares in the last quarter. GAMMA Investing LLC lifted its position in Avient by 35.4% during the third quarter. GAMMA Investing LLC now owns 1,098 shares of the company’s stock valued at $55,000 after purchasing an additional 287 shares during the last quarter. CWM LLC lifted its position in Avient by 21.5% during the third quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $82,000 after purchasing an additional 290 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Avient by 81.6% in the 3rd quarter. UMB Bank n.a. now owns 663 shares of the company’s stock worth $33,000 after buying an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 95.48% of the company’s stock.

Avient Stock Performance

Shares of NYSE:AVNT opened at $42.11 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. Avient Co. has a 12 month low of $35.86 and a 12 month high of $54.68. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.08 and a beta of 1.51. The firm’s 50-day moving average is $43.30 and its 200 day moving average is $46.44.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AVNT shares. Wells Fargo & Company upped their target price on shares of Avient from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Seaport Res Ptn downgraded Avient from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Oppenheimer lifted their target price on Avient from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to 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.