Diversified Trust Co Buys Shares of 11,225 Avient Co. (NYSE:AVNT)

Diversified Trust Co bought a new stake in shares of Avient Co. (NYSE:AVNT) in the 3rd quarter, Holdings Channel reports. The firm bought 11,225 shares of the company’s stock, valued at approximately $565,000.

A number of other hedge funds have also recently made changes to their positions in AVNT. Headlands Technologies LLC bought a new stake in Avient during the 1st quarter valued at about $35,000. GAMMA Investing LLC increased its position in shares of Avient by 88.6% during the second quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock valued at $35,000 after acquiring an additional 381 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Avient in the 2nd quarter worth approximately $59,000. Innealta Capital LLC purchased a new position in Avient in the 2nd quarter worth approximately $119,000. Finally, Lazard Asset Management LLC bought a new position in Avient in the 1st quarter valued at approximately $133,000. 95.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft raised Avient from a “hold” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $52.00 in a report on Wednesday, August 7th.

Avient Stock Performance

Shares of NYSE AVNT opened at $47.98 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average price is $47.18 and its 200-day moving average price is $44.98. Avient Co. has a 52-week low of $27.73 and a 52-week high of $51.51. The company has a market cap of $4.38 billion, a PE ratio of 41.72, a PEG ratio of 1.21 and a beta of 1.47.

Avient (NYSE:AVNT) last issued its earnings results on Tuesday, August 6th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. The company had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $841.40 million. Avient had a net margin of 3.70% and a return on equity of 10.34%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.63 earnings per share. As a group, analysts anticipate that Avient Co. will post 2.65 EPS for the current year.

Avient Profile

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.