Avient Corporation $AVNT Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lessened its holdings in shares of Avient Corporation (NYSE:AVNT) by 95.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 915 shares of the company’s stock after selling 18,657 shares during the period. Essex Investment Management Co. LLC’s holdings in Avient were worth $30,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Parkside Financial Bank & Trust grew its holdings in shares of Avient by 54.2% during the third quarter. Parkside Financial Bank & Trust now owns 967 shares of the company’s stock valued at $32,000 after purchasing an additional 340 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Avient during the 2nd quarter valued at approximately $37,000. DekaBank Deutsche Girozentrale bought a new position in Avient during the 2nd quarter worth $45,000. Quantbot Technologies LP acquired a new stake in Avient in the second quarter worth $72,000. Finally, ARK Investment Management LLC increased its position in Avient by 18.3% in the second quarter. ARK Investment Management LLC now owns 2,286 shares of the company’s stock worth $74,000 after buying an additional 354 shares during the period. Institutional investors own 95.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Avient from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Oppenheimer lifted their price objective on shares of Avient from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Zacks Research raised 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 note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Avient currently has a consensus rating of “Moderate Buy” and an average price target of $43.50.

Avient Price Performance

Shares of NYSE AVNT opened at $40.19 on Wednesday. The stock has a market cap of $3.68 billion, a P/E ratio of 32.67, a P/E/G ratio of 1.30 and a beta of 1.44. The firm’s 50-day simple moving average is $33.80 and its 200 day simple moving average is $33.35. Avient Corporation has a fifty-two week low of $27.48 and a fifty-two week high of $44.78. The company has a quick ratio of 1.47, a current ratio of 2.03 and a debt-to-equity ratio of 0.83.

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.