UBS Asset Management Americas Inc. lifted its holdings in PolyOne Co. (NYSE:POL) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,688 shares of the specialty chemicals company’s stock after buying an additional 3,995 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.08% of PolyOne worth $2,683,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in POL. Nationwide Fund Advisors boosted its stake in shares of PolyOne by 1.8% in the 3rd quarter. Nationwide Fund Advisors now owns 290,297 shares of the specialty chemicals company’s stock worth $11,621,000 after buying an additional 5,217 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in PolyOne in the third quarter valued at approximately $265,000. Sei Investments Co. lifted its stake in PolyOne by 10.2% in the third quarter. Sei Investments Co. now owns 190,956 shares of the specialty chemicals company’s stock valued at $7,643,000 after purchasing an additional 17,707 shares during the last quarter. New York State Common Retirement Fund lifted its stake in 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 valued at $8,206,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Comerica Bank lifted its stake in PolyOne by 9.1% in the third quarter. Comerica Bank now owns 163,977 shares of the specialty chemicals company’s stock valued at $7,335,000 after purchasing an additional 13,701 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.
Several research firms recently commented on POL. Zacks Investment Research upgraded PolyOne from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Tuesday, March 27th. Oppenheimer reiterated a “buy” rating and issued a $47.00 price objective on shares of PolyOne in a research note on Tuesday, January 23rd. KeyCorp reiterated a “buy” rating and issued a $50.00 price objective on shares of PolyOne in a research note on Monday, January 29th. Northcoast Research reissued a “neutral” rating on shares of PolyOne in a report on Monday, January 29th. Finally, SunTrust Banks reissued a “buy” rating on shares of PolyOne in a report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $45.14.
POL stock traded down $1.07 during midday trading on Friday, reaching $41.92. 212,064 shares of the company’s stock traded hands, compared to its average volume of 345,572. The stock has a market capitalization of $3,390.82, a price-to-earnings ratio of 18.97, a PEG ratio of 1.59 and a beta of 1.66. PolyOne Co. has a 52 week low of $33.25 and a 52 week high of $47.48. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.87 and a quick ratio of 1.29.
PolyOne (NYSE:POL) last released its quarterly earnings results on Friday, January 26th. The specialty chemicals company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $739.77 million. PolyOne had a negative net margin of 1.73% and a positive return on equity of 29.46%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. equities research analysts anticipate that PolyOne Co. will post 2.54 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 5th. Stockholders of record on Tuesday, March 20th were issued a $0.175 dividend. The ex-dividend date of this dividend was Monday, March 19th. This represents a $0.70 annualized dividend and a dividend yield of 1.67%. PolyOne’s payout ratio is currently 31.67%.
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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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