Raymond James & Associates lowered its stake in shares of PolyOne Co. (NYSE:POL) by 35.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,935 shares of the specialty chemicals company’s stock after selling 4,922 shares during the period. Raymond James & Associates’ holdings in PolyOne were worth $256,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund boosted its stake in PolyOne by 2,760.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 902,816 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 871,249 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in PolyOne by 13.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,330,555 shares of the specialty chemicals company’s stock worth $38,053,000 after buying an additional 153,732 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in PolyOne in the 4th quarter worth about $4,133,000. Vanguard Group Inc boosted its stake in PolyOne by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 7,557,332 shares of the specialty chemicals company’s stock worth $330,407,000 after buying an additional 113,662 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in PolyOne by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,557,332 shares of the specialty chemicals company’s stock worth $330,407,000 after buying an additional 113,662 shares during the last quarter. 93.71% of the stock is currently owned by institutional investors and hedge funds.
POL has been the topic of a number of research analyst reports. Zacks Investment Research raised PolyOne from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Tuesday, January 8th. Buckingham Research initiated coverage on PolyOne in a research note on Tuesday, February 5th. They issued a “buy” rating and a $32.40 price target on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.08.
NYSE POL opened at $31.04 on Monday. The stock has a market capitalization of $2.41 billion, a PE ratio of 12.77, a PEG ratio of 1.20 and a beta of 1.71. PolyOne Co. has a 1-year low of $26.16 and a 1-year high of $45.70. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 2.47.
PolyOne (NYSE:POL) last released its quarterly earnings data on Tuesday, January 29th. The specialty chemicals company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $834.00 million for the quarter, compared to analyst estimates of $821.90 million. PolyOne had a return on equity of 33.46% and a net margin of 4.52%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. Sell-side analysts expect that PolyOne Co. will post 2.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, March 14th. PolyOne’s dividend payout ratio is currently 32.10%.
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PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols, and vinyl slush molding solutions.
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