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

Allspring Global Investments Holdings LLC decreased its position in Avient Co. (NYSE:AVNT - Free Report) by 14.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,486,124 shares of the company's stock after selling 571,232 shares during the period. Allspring Global Investments Holdings LLC owned about 3.82% of Avient worth $140,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Choreo LLC grew its holdings in shares of Avient by 4.3% in the fourth quarter. Choreo LLC now owns 5,812 shares of the company's stock worth $237,000 after purchasing an additional 238 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Avient by 4.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,551 shares of the company's stock valued at $227,000 after acquiring an additional 258 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Avient by 35.4% in the third quarter. GAMMA Investing LLC now owns 1,098 shares of the company's stock valued at $55,000 after acquiring an additional 287 shares in the last quarter. CWM LLC boosted its holdings in Avient by 21.5% in 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 in the last quarter. Finally, UMB Bank n.a. boosted its holdings in 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 in the last quarter. Institutional investors own 95.48% of the company's stock.

Avient Stock Up 0.2 %

Shares of AVNT traded up $0.07 during trading hours on Friday, hitting $43.02. The company had a trading volume of 775,739 shares, compared to its average volume of 482,740. The firm has a fifty day moving average price of $42.48 and a 200-day moving average price of $46.32. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.63. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.08 and a beta of 1.51. Avient Co. has a 52-week low of $37.63 and a 52-week high of $54.68.

Avient (NYSE:AVNT - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Avient had a return on equity of 10.56% and a net margin of 4.66%. On average, equities research analysts forecast that Avient Co. will post 2.65 EPS for the current fiscal year.

Avient Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Tuesday, March 18th. Avient's dividend payout ratio (DPR) is 66.67%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVNT. Seaport Res Ptn cut shares of Avient from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. Wells Fargo & Company cut their price target on shares of Avient from $59.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Avient from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Avient has an average rating of "Moderate Buy" and a consensus target price of $54.00.

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.