HBK Sorce Advisory LLC purchased a new position in PolyOne Co. (NYSE:POL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,000 shares of the specialty chemicals company’s stock, valued at approximately $1,218,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of POL. Nationwide Fund Advisors boosted its position in shares of PolyOne by 1.8% in the third quarter. Nationwide Fund Advisors now owns 290,297 shares of the specialty chemicals company’s stock worth $11,621,000 after purchasing an additional 5,217 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of PolyOne in the third quarter worth approximately $265,000. Sei Investments Co. boosted its position in shares of PolyOne by 10.2% in the third quarter. Sei Investments Co. now owns 190,956 shares of the specialty chemicals company’s stock worth $7,643,000 after purchasing an additional 17,707 shares during the period. New York State Common Retirement Fund boosted its position in shares of PolyOne by 0.8% in the third quarter. New York State Common Retirement Fund now owns 204,996 shares of the specialty chemicals company’s stock worth $8,206,000 after purchasing an additional 1,633 shares during the period. Finally, Comerica Bank boosted its position in shares of PolyOne by 9.1% in the third quarter. Comerica Bank now owns 163,977 shares of the specialty chemicals company’s stock worth $7,335,000 after purchasing an additional 13,701 shares during the period. Institutional investors and hedge funds own 93.91% of the company’s stock.
POL has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of PolyOne from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of PolyOne from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, December 27th. Oppenheimer restated a “buy” rating and set a $47.00 target price on shares of PolyOne in a research report on Tuesday, January 23rd. SunTrust Banks restated a “buy” rating on shares of PolyOne in a research report on Monday, January 29th. Finally, KeyCorp restated a “buy” rating and set a $50.00 target price on shares of PolyOne in a research report on Monday, January 29th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $45.71.
PolyOne Co. (NYSE:POL) opened at $43.23 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.29 and a current ratio of 1.87. PolyOne Co. has a 12-month low of $32.43 and a 12-month high of $47.48. The firm has a market cap of $3,465.25, a price-to-earnings ratio of -61.76, a P/E/G ratio of 1.63 and a beta of 1.73.
PolyOne (NYSE:POL) last issued its earnings results on Friday, January 26th. The specialty chemicals company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. PolyOne had a negative net margin of 1.73% and a positive return on equity of 29.46%. The firm had revenue of $801.00 million during the quarter, compared to analyst estimates of $739.77 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. PolyOne’s revenue for the quarter was up 1.7% on a year-over-year basis. analysts expect that PolyOne Co. will post 2.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Tuesday, March 20th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, March 19th. PolyOne’s payout ratio is -100.00%.
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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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