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

Allspring Global Investments Holdings LLC lessened its stake in shares of Avient Co. (NYSE:AVNT) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,486,124 shares of the company’s stock after selling 571,232 shares during the quarter. Allspring Global Investments Holdings LLC owned about 3.82% of Avient worth $140,351,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Choreo LLC lifted its position in Avient by 4.3% during the fourth 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 period. Janney Montgomery Scott LLC increased its holdings 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 buying an additional 258 shares during the last quarter. GAMMA Investing LLC raised its position in Avient by 35.4% in the third quarter. GAMMA Investing LLC now owns 1,098 shares of the company’s stock worth $55,000 after acquiring an additional 287 shares during the period. CWM LLC boosted its stake in shares of Avient by 21.5% during the 3rd quarter. CWM LLC now owns 1,637 shares of the company’s stock worth $82,000 after acquiring an additional 290 shares during the last quarter. Finally, UMB Bank n.a. increased 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 purchasing an additional 298 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors.

Avient Stock Performance

NYSE AVNT opened at $42.25 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. Avient Co. has a twelve month low of $35.86 and a twelve month high of $54.68. The business has a 50-day moving average price of $42.93 and a 200-day moving average price of $46.39. The firm 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 Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Seaport Res Ptn cut Avient from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company increased 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.