Jefferies Group LLC reiterated their hold rating on shares of PolyOne Corporation (NYSE:POL) in a report published on Friday. They currently have a $42.00 price objective on the specialty chemicals company’s stock.
POL has been the topic of a number of other research reports. CIBC initiated coverage on PolyOne Corporation in a report on Thursday, August 17th. They issued an outperform rating and a $43.00 target price on the stock. Zacks Investment Research raised PolyOne Corporation from a hold rating to a buy rating and set a $42.00 target price on the stock in a report on Tuesday, May 23rd. BidaskClub downgraded PolyOne Corporation from a hold rating to a sell rating in a report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. initiated coverage on PolyOne Corporation in a report on Wednesday, August 16th. They issued an outperform rating and a $43.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. PolyOne Corporation presently has a consensus rating of Hold and a consensus target price of $41.60.
Shares of PolyOne Corporation (NYSE:POL) traded up 0.40% during mid-day trading on Friday, reaching $37.29. The company had a trading volume of 716,947 shares. PolyOne Corporation has a 12-month low of $28.77 and a 12-month high of $40.88. The stock’s market capitalization is $3.05 billion. The firm’s 50 day moving average is $36.37 and its 200-day moving average is $36.49.
PolyOne Corporation (NYSE:POL) last issued its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.63. The business had revenue of $814.10 million for the quarter, compared to the consensus estimate of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. On average, analysts expect that PolyOne Corporation will post $2.21 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, September 14th. PolyOne Corporation’s dividend payout ratio is presently -73.97%.
Several hedge funds have recently modified their holdings of POL. Capstone Asset Management Co. acquired a new stake in shares of PolyOne Corporation in the 1st quarter valued at $248,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of PolyOne Corporation by 1.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 30,687 shares of the specialty chemicals company’s stock valued at $1,046,000 after purchasing an additional 400 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of PolyOne Corporation by 2.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 49,563 shares of the specialty chemicals company’s stock valued at $1,688,000 after purchasing an additional 1,235 shares in the last quarter. LSV Asset Management bought a new position in shares of PolyOne Corporation in the 1st quarter valued at $913,000. Finally, First Trust Advisors LP lifted its stake in shares of PolyOne Corporation by 67.4% in the 1st quarter. First Trust Advisors LP now owns 59,276 shares of the specialty chemicals company’s stock valued at $2,021,000 after acquiring an additional 23,869 shares during the last quarter. 94.37% of the stock is currently owned by hedge funds and other institutional investors.
PolyOne Corporation 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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