Keeley Teton Advisors LLC Cuts Stock Holdings in Avient Co. (NYSE:AVNT)

Keeley Teton Advisors LLC cut its stake in shares of Avient Co. (NYSE:AVNT) by 13.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,953 shares of the company’s stock after selling 1,737 shares during the quarter. Keeley Teton Advisors LLC’s holdings in Avient were worth $448,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AVNT. Smartleaf Asset Management LLC grew its position in Avient by 56.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 695 shares of the company’s stock valued at $28,000 after acquiring an additional 250 shares during the period. Headlands Technologies LLC acquired a new position in shares of Avient in the 4th quarter valued at about $90,000. Venturi Wealth Management LLC purchased a new stake in shares of Avient during the 4th quarter worth about $96,000. KBC Group NV grew its holdings in shares of Avient by 47.2% during the 4th quarter. KBC Group NV now owns 4,090 shares of the company’s stock worth $167,000 after purchasing an additional 1,312 shares during the period. Finally, Trust Point Inc. increased its position in Avient by 23.6% during the 4th quarter. Trust Point Inc. now owns 5,164 shares of the company’s stock worth $211,000 after purchasing an additional 985 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Avient Stock Down 2.5 %

Shares of Avient stock opened at $30.83 on Thursday. Avient Co. has a 1-year low of $27.86 and a 1-year high of $54.68. The company has a market capitalization of $2.82 billion, a PE ratio of 16.85, a P/E/G ratio of 1.25 and a beta of 1.41. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.88 and a quick ratio of 1.42. The business has a 50-day moving average of $38.62 and a 200-day moving average of $43.70.

Avient (NYSE:AVNT) last posted its quarterly earnings data 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 10.44% and a net margin of 5.23%. As a group, equities analysts forecast that Avient Co. will post 2.85 EPS for the current fiscal year.

Avient Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Tuesday, March 18th. Avient’s dividend payout ratio is currently 59.02%.

Analyst Ratings Changes

Several research firms have issued reports on AVNT. Seaport Res Ptn upgraded shares of Avient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Robert W. Baird began coverage on shares of Avient in a research report on Friday, March 14th. They set a “neutral” rating and a $43.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price target on Avient from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, February 14th. Baird R W upgraded Avient to a “hold” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company lowered their target price on Avient from $55.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.60.

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.