Zacks Investment Research upgraded shares of PolyOne (NYSE:POL) from a sell rating to a hold rating in a research note published on Saturday.
According to Zacks, “PolyOne Corporation is a premier provider of specialized polymer materials, services and solutions. PolyOne are dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. PolyOne, business is structured to provide operations with the specialized polymer materials, services and solutions need. PolyOne are a premier provider of specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions and polymer distribution. A leading provider of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks, plastisols, and vinyl slush molding solutions. “
Several other brokerages have also recently weighed in on POL. ValuEngine cut PolyOne from a buy rating to a hold rating in a report on Saturday, September 1st. SunTrust Banks cut PolyOne from a buy rating to a hold rating in a report on Wednesday, July 25th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $45.67.
Shares of NYSE POL opened at $43.66 on Friday. The stock has a market capitalization of $3.38 billion, a PE ratio of 19.58, a P/E/G ratio of 1.57 and a beta of 1.49. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.76 and a quick ratio of 1.22. PolyOne has a fifty-two week low of $37.20 and a fifty-two week high of $47.48.
PolyOne (NYSE:POL) last announced its quarterly earnings data on Tuesday, July 24th. The specialty chemicals company reported $0.71 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. The company had revenue of $914.80 million during the quarter, compared to analysts’ expectations of $908.12 million. PolyOne had a return on equity of 32.92% and a net margin of 5.09%. PolyOne’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. sell-side analysts forecast that PolyOne will post 2.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 4th. Stockholders of record on Friday, September 14th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Thursday, September 13th. PolyOne’s payout ratio is 31.67%.
In related news, CEO Robert M. Patterson sold 20,000 shares of PolyOne stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $43.61, for a total transaction of $872,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its holdings in PolyOne by 12.0% during the second quarter. Amalgamated Bank now owns 12,952 shares of the specialty chemicals company’s stock worth $560,000 after purchasing an additional 1,385 shares during the period. Denver Investment Advisors LLC grew its holdings in PolyOne by 6.5% during the first quarter. Denver Investment Advisors LLC now owns 24,977 shares of the specialty chemicals company’s stock worth $1,062,000 after purchasing an additional 1,516 shares during the period. Sawgrass Asset Management LLC grew its holdings in PolyOne by 28.6% during the second quarter. Sawgrass Asset Management LLC now owns 7,110 shares of the specialty chemicals company’s stock worth $307,000 after purchasing an additional 1,580 shares during the period. Xact Kapitalforvaltning AB grew its holdings in PolyOne by 16.5% during the second quarter. Xact Kapitalforvaltning AB now owns 12,681 shares of the specialty chemicals company’s stock worth $548,000 after purchasing an additional 1,800 shares during the period. Finally, Mutual of America Capital Management LLC lifted its position in PolyOne by 2.8% during the second quarter. Mutual of America Capital Management LLC now owns 68,582 shares of the specialty chemicals company’s stock worth $2,964,000 after acquiring an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 95.86% of the company’s stock.
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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