California State Teachers Retirement System cut its stake in shares of PolyOne Co. (NYSE:POL) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,593 shares of the specialty chemicals company’s stock after selling 5,178 shares during the quarter. California State Teachers Retirement System’s holdings in PolyOne were worth $5,213,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Asset Management One Co. Ltd. bought a new position in shares of PolyOne during the first quarter valued at $193,000. Intrust Bank NA bought a new position in shares of PolyOne during the first quarter valued at $208,000. O Shaughnessy Asset Management LLC increased its holdings in shares of PolyOne by 116.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 6,456 shares of the specialty chemicals company’s stock valued at $275,000 after acquiring an additional 3,467 shares in the last quarter. Barings LLC bought a new position in shares of PolyOne during the first quarter valued at $276,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of PolyOne during the fourth quarter valued at $309,000. Hedge funds and other institutional investors own 91.96% of the company’s stock.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded PolyOne from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Saturday, April 28th. ValuEngine downgraded PolyOne from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $45.29.
In other PolyOne news, Director William Howard Powell sold 4,000 shares of the business’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $43.30, for a total transaction of $173,200.00. Following the completion of the sale, the director now directly owns 9,028 shares in the company, valued at approximately $390,912.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.
PolyOne opened at $43.28 on Thursday, according to Marketbeat Ratings. PolyOne Co. has a one year low of $34.15 and a one year high of $47.48. The stock has a market capitalization of $3.46 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 1.62 and a beta of 1.64. The company has a quick ratio of 1.25, a current ratio of 1.81 and a debt-to-equity ratio of 2.25.
PolyOne (NYSE:POL) last released its quarterly earnings data on Thursday, April 26th. The specialty chemicals company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. PolyOne had a positive return on equity of 32.45% and a negative net margin of 1.73%. The company had revenue of $901.60 million during the quarter, compared to the consensus estimate of $870.60 million. During the same period last year, the company earned $0.59 EPS. PolyOne’s revenue for the quarter was up 13.2% on a year-over-year basis. sell-side analysts expect that PolyOne Co. will post 2.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 6th. Investors of record on Friday, June 15th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.70 annualized dividend and a yield of 1.62%. PolyOne’s payout ratio is 31.67%.
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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