Allspring Global Investments Holdings LLC Reduces Stock Position in Avient Co. (NYSE:AVNT)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Avient Co. (NYSE:AVNT) by 14.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,486,124 shares of the company’s stock after selling 571,232 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Avient were worth $140,351,000 at the end of the most recent reporting period.

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

Avient Stock Up 0.5 %

NYSE:AVNT opened at $42.25 on Wednesday. The stock has a fifty day simple moving average of $42.93 and a 200-day simple moving average of $46.39. The company has a current ratio of 1.63, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. Avient Co. has a twelve month low of $35.86 and a twelve month high of $54.68.

Avient Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, March 18th. Avient’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVNT. Wells Fargo & Company raised their target price on shares of Avient from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Seaport Res Ptn downgraded shares of Avient from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Avient presently has a consensus rating of “Moderate Buy” and an average price target of $55.50.

Avient Company 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.