Wells Fargo & Company MN boosted its stake in shares of PolyOne Corporation (NYSE:POL) by 11.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,343,438 shares of the specialty chemicals company’s stock after acquiring an additional 246,918 shares during the period. Wells Fargo & Company MN owned 2.90% of PolyOne worth $93,808,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Acrospire Investment Management LLC increased its stake in PolyOne by 85.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,601 shares of the specialty chemicals company’s stock worth $101,000 after acquiring an additional 1,200 shares during the period. Advisor Group Inc. increased its stake in PolyOne by 2.6% during the 2nd quarter. Advisor Group Inc. now owns 3,254 shares of the specialty chemicals company’s stock worth $126,000 after acquiring an additional 84 shares during the period. Quantbot Technologies LP bought a new position in PolyOne during the 2nd quarter worth $143,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PolyOne by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,063 shares of the specialty chemicals company’s stock worth $157,000 after acquiring an additional 317 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in PolyOne by 215.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,249 shares of the specialty chemicals company’s stock worth $165,000 after acquiring an additional 2,900 shares during the period. Hedge funds and other institutional investors own 93.80% of the company’s stock.
A number of research firms have commented on POL. CIBC began coverage on PolyOne in a research note on Thursday, August 17th. They set an “outperform” rating and a $43.00 price objective on the stock. Oppenheimer began coverage on PolyOne in a research note on Wednesday, August 16th. They set an “outperform” rating and a $43.00 price objective on the stock. Zacks Investment Research upgraded PolyOne from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Robert W. Baird restated a “buy” rating and set a $42.00 price objective on shares of PolyOne in a research note on Thursday, October 12th. Finally, KeyCorp set a $47.00 target price on PolyOne and gave the company a “buy” rating in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. PolyOne presently has an average rating of “Buy” and an average target price of $43.17.
Shares of PolyOne Corporation (NYSE POL) traded down $0.09 during mid-day trading on Wednesday, hitting $44.97. The company’s stock had a trading volume of 301,400 shares, compared to its average volume of 485,007. The firm has a market cap of $3,641.04, a P/E ratio of 20.67, a PEG ratio of 2.07 and a beta of 1.83. PolyOne Corporation has a 52-week low of $31.68 and a 52-week high of $46.79. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.38 and a current ratio of 1.96.
PolyOne (NYSE:POL) last issued its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The firm had revenue of $818.50 million for the quarter, compared to the consensus estimate of $789.32 million. PolyOne had a positive return on equity of 27.77% and a negative net margin of 1.87%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. analysts expect that PolyOne Corporation will post 2.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, December 14th. This is an increase from PolyOne’s previous quarterly dividend of $0.14. PolyOne’s dividend payout ratio (DPR) is currently -71.05%.
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PolyOne Company Profile
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.
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