Putnam FL Investment Management Co. purchased a new position in shares of PolyOne Corporation (NYSE:POL) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,915 shares of the specialty chemicals company’s stock, valued at approximately $797,000.
Other large investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its position in PolyOne Corporation by 85.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,601 shares of the specialty chemicals company’s stock worth $101,000 after acquiring an additional 1,200 shares during the last quarter. Advisor Group Inc. boosted its position in PolyOne Corporation by 2.6% during the 2nd quarter. Advisor Group Inc. now owns 3,254 shares of the specialty chemicals company’s stock worth $126,000 after acquiring an additional 84 shares during the last quarter. Quantbot Technologies LP acquired a new position in PolyOne Corporation during the 2nd quarter worth approximately $143,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PolyOne Corporation by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,063 shares of the specialty chemicals company’s stock worth $157,000 after acquiring an additional 317 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in PolyOne Corporation by 215.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,249 shares of the specialty chemicals company’s stock worth $165,000 after acquiring an additional 2,900 shares during the last quarter. 96.82% of the stock is owned by hedge funds and other institutional investors.
PolyOne Corporation (NYSE POL) traded up $0.58 during midday trading on Friday, hitting $44.74. The stock had a trading volume of 324,100 shares, compared to its average volume of 491,513. The firm has a market cap of $3,568.31, a P/E ratio of 20.26, a PEG ratio of 2.03 and a beta of 1.85. The company has a current ratio of 1.96, a quick ratio of 1.38 and a debt-to-equity ratio of 2.32. PolyOne Corporation has a 12 month low of $31.68 and a 12 month high of $46.59.
PolyOne Corporation (NYSE:POL) last announced its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.03. PolyOne Corporation had a positive return on equity of 27.77% and a negative net margin of 1.87%. The business had revenue of $818.50 million during the quarter, compared to the consensus estimate of $789.32 million. During the same quarter last year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. equities analysts predict that PolyOne Corporation will post 2.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.175 per share. This is an increase from PolyOne Corporation’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, December 14th. This represents a $0.70 annualized dividend and a yield of 1.56%. PolyOne Corporation’s dividend payout ratio (DPR) is currently -71.05%.
A number of equities analysts have weighed in on POL shares. Robert W. Baird reaffirmed a “buy” rating and set a $42.00 price target on shares of PolyOne Corporation in a research report on Thursday, October 12th. KeyCorp set a $47.00 price objective on PolyOne Corporation and gave the company a “buy” rating in a report on Thursday, October 26th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $42.00 price objective on shares of PolyOne Corporation in a report on Friday, October 27th. Zacks Investment Research raised PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $42.00 price objective on shares of PolyOne Corporation in a report on Thursday, October 19th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. PolyOne Corporation presently has a consensus rating of “Buy” and a consensus price target of $43.17.
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PolyOne Corporation 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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