Millennium Management LLC boosted its stake in shares of PolyOne Co. (NYSE:POL) by 1,018.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 234,517 shares of the specialty chemicals company’s stock after acquiring an additional 213,552 shares during the period. Millennium Management LLC owned 0.29% of PolyOne worth $10,201,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in PolyOne by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,099,348 shares of the specialty chemicals company’s stock worth $84,039,000 after acquiring an additional 30,766 shares during the period. Channing Capital Management LLC increased its stake in PolyOne by 2.0% during the 4th quarter. Channing Capital Management LLC now owns 2,063,440 shares of the specialty chemicals company’s stock worth $89,764,000 after acquiring an additional 40,214 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in PolyOne by 4.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,237,390 shares of the specialty chemicals company’s stock worth $53,826,000 after acquiring an additional 52,825 shares during the period. Geode Capital Management LLC increased its stake in PolyOne by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 763,503 shares of the specialty chemicals company’s stock worth $33,212,000 after acquiring an additional 86,503 shares during the period. Finally, Deutsche Bank AG increased its stake in PolyOne by 38.2% during the 4th quarter. Deutsche Bank AG now owns 693,841 shares of the specialty chemicals company’s stock worth $30,180,000 after acquiring an additional 191,627 shares during the period. Hedge funds and other institutional investors own 93.91% of the company’s stock.
Several brokerages have recently issued reports on POL. Zacks Investment Research lowered PolyOne from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. ValuEngine upgraded PolyOne from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Robert W. Baird lowered PolyOne from an “outperform” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research note on Tuesday, January 16th. SunTrust Banks reiterated a “buy” rating on shares of PolyOne in a research note on Monday, January 29th. Finally, KeyCorp reiterated a “buy” rating and issued a $50.00 price target on shares of PolyOne in a research note on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $45.14.
NYSE POL opened at $41.92 on Monday. 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 twelve month low of $33.25 and a twelve month high of $47.48. The firm has a market cap of $3,390.82, a P/E ratio of 18.97, a PEG ratio of 1.59 and a beta of 1.66.
PolyOne (NYSE:POL) last released its quarterly earnings data on Friday, January 26th. The specialty chemicals company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. PolyOne had a positive return on equity of 29.46% and a negative net margin of 1.73%. The company had revenue of $801.00 million for the quarter, compared to the consensus estimate of $739.77 million. During the same quarter last year, the business posted $0.38 EPS. PolyOne’s revenue for the quarter was up 1.7% on a year-over-year basis. analysts forecast that PolyOne Co. will post 2.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 5th. Shareholders of record on Tuesday, March 20th were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.67%. The ex-dividend date was Monday, March 19th. PolyOne’s payout ratio is presently 31.67%.
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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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