First Republic Investment Management Inc. reduced its position in shares of PolyOne Corporation (NYSE:POL) by 21.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,694 shares of the specialty chemicals company’s stock after selling 12,590 shares during the quarter. First Republic Investment Management Inc. owned about 0.06% of PolyOne worth $1,829,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Victory Capital Management Inc. grew its position in shares of PolyOne by 27,668.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,172,679 shares of the specialty chemicals company’s stock worth $45,429,000 after buying an additional 1,168,456 shares during the period. Prudential Financial Inc. grew its position in shares of PolyOne by 46.9% during the 3rd quarter. Prudential Financial Inc. now owns 751,003 shares of the specialty chemicals company’s stock worth $30,062,000 after buying an additional 239,700 shares during the period. Keybank National Association OH acquired a new position in shares of PolyOne during the 2nd quarter worth about $1,240,000. Strs Ohio grew its position in shares of PolyOne by 6.0% during the 2nd quarter. Strs Ohio now owns 8,800 shares of the specialty chemicals company’s stock worth $340,000 after buying an additional 500 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in shares of PolyOne during the 2nd quarter worth about $471,000. 93.80% of the stock is owned by hedge funds and other institutional investors.
Shares of PolyOne Corporation (POL) traded up $0.54 on Wednesday, hitting $44.70. The company had a trading volume of 490,300 shares, compared to its average volume of 482,245. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.96 and a quick ratio of 1.38. PolyOne Corporation has a 1-year low of $31.68 and a 1-year high of $46.79. The firm has a market cap of $3,568.31, a price-to-earnings ratio of 20.26, a PEG ratio of 2.03 and a beta of 1.83.
PolyOne (NYSE:POL) last issued its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. PolyOne had a positive return on equity of 27.77% and a negative net margin of 1.87%. The business had revenue of $818.50 million during the quarter, compared to analyst estimates of $789.32 million. During the same period in the previous year, the firm earned $0.55 EPS. PolyOne’s quarterly revenue was up 9.6% compared to the same quarter last year. research analysts anticipate that PolyOne Corporation will post 2.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.70 dividend on an annualized basis and a yield of 1.57%. This is an increase from PolyOne’s previous quarterly dividend of $0.14. PolyOne’s dividend payout ratio is -71.05%.
Several equities analysts recently issued reports on the company. CIBC assumed coverage on PolyOne in a research report on Thursday, August 17th. They issued an “outperform” rating and a $43.00 price objective for the company. Oppenheimer assumed coverage on PolyOne in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $43.00 price objective for the company. Zacks Investment Research upgraded PolyOne from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Robert W. Baird reiterated a “buy” rating and issued a $42.00 price objective on shares of PolyOne in a research report on Thursday, October 12th. Finally, KeyCorp set a $47.00 price objective on PolyOne and gave the company a “buy” rating in a research report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.17.
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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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