Channing Capital Management LLC Has $62.38 Million Holdings in Avient Corporation $AVNT

Key Points

• Channing Capital Management LLC reduced its shareholding in Avient Corporation by 2.5% during the first quarter, now owning approximately 1.9% of the company, valued at around $62 million.
• Avient recently reported earnings of $0.80 EPS for the quarter, exceeding estimates, with revenue growth of 1.9% year-over-year.
• The company declared a quarterly dividend of $0.27 per share, resulting in an annualized dividend of $1.08 and a dividend yield of 3.0%.

Channing Capital Management LLC lowered its position in Avient Corporation (NYSE:AVNT - Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,678,758 shares of the company's stock after selling 42,354 shares during the period. Avient comprises 1.9% of Channing Capital Management LLC's holdings, making the stock its 27th largest position. Channing Capital Management LLC owned 1.83% of Avient worth $62,383,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in Avient by 85.8% during the 1st quarter. UMB Bank n.a. now owns 1,126 shares of the company's stock worth $42,000 after buying an additional 520 shares during the period. GAMMA Investing LLC raised its holdings in Avient by 57.5% during the 1st quarter. GAMMA Investing LLC now owns 1,422 shares of the company's stock worth $53,000 after buying an additional 519 shares during the period. Allworth Financial LP raised its holdings in Avient by 2,450.0% during the 1st quarter. Allworth Financial LP now owns 1,479 shares of the company's stock worth $55,000 after buying an additional 1,421 shares during the period. Curat Global LLC acquired a new stake in Avient during the 1st quarter worth approximately $56,000. Finally, CWM LLC raised its holdings in Avient by 45.2% during the 1st quarter. CWM LLC now owns 2,569 shares of the company's stock worth $95,000 after buying an additional 800 shares during the period. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVNT. Wells Fargo & Company raised their target price on shares of Avient from $39.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Robert W. Baird dropped their target price on shares of Avient from $43.00 to $37.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Finally, Morgan Stanley dropped their target price on shares of Avient from $51.00 to $41.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.60.

Avient Price Performance

Shares of AVNT traded up $0.18 during mid-day trading on Monday, reaching $37.70. The company had a trading volume of 901,130 shares, compared to its average volume of 682,168. The company's 50 day simple moving average is $33.92 and its 200 day simple moving average is $36.10. Avient Corporation has a 1-year low of $27.86 and a 1-year high of $54.68. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.50 and a current ratio of 2.03. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 29.45, a P/E/G ratio of 1.29 and a beta of 1.38.

Avient (NYSE:AVNT - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. Avient had a net margin of 3.65% and a return on equity of 10.57%. The company had revenue of $866.50 million for the quarter, compared to the consensus estimate of $852.98 million. During the same period last year, the company posted $0.76 EPS. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. Avient has set its Q3 2025 guidance at 0.700-0.700 EPS. FY 2025 guidance at 2.770-2.870 EPS. Analysts expect that Avient Corporation will post 2.85 EPS for the current year.

Avient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Friday, September 12th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, September 12th. Avient's dividend payout ratio (DPR) is 84.38%.

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.