Suffolk Capital Management LLC reduced its stake in shares of PolyOne Corporation (NYSE:POL) by 23.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,707 shares of the specialty chemicals company’s stock after selling 11,015 shares during the period. Suffolk Capital Management LLC’s holdings in PolyOne Corporation were worth $1,469,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. World Asset Management Inc acquired a new position in shares of PolyOne Corporation during the 3rd quarter worth approximately $209,000. Boston Partners raised its holdings in PolyOne Corporation by 1.4% in the 3rd quarter. Boston Partners now owns 204,413 shares of the specialty chemicals company’s stock valued at $8,182,000 after acquiring an additional 2,789 shares during the last quarter. Keybank National Association OH raised its holdings in PolyOne Corporation by 23.1% in the 3rd quarter. Keybank National Association OH now owns 39,400 shares of the specialty chemicals company’s stock valued at $1,577,000 after acquiring an additional 7,400 shares during the last quarter. Prudential Financial Inc. raised its holdings in PolyOne Corporation by 46.9% in the 3rd quarter. Prudential Financial Inc. now owns 751,003 shares of the specialty chemicals company’s stock valued at $30,062,000 after acquiring an additional 239,700 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in PolyOne Corporation by 72.8% in the 3rd quarter. American Century Companies Inc. now owns 1,069,954 shares of the specialty chemicals company’s stock valued at $42,830,000 after acquiring an additional 450,916 shares during the last quarter. Hedge funds and other institutional investors own 96.82% of the company’s stock.
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PolyOne Corporation (POL) traded up $0.07 during trading hours on Friday, reaching $44.81. 280,077 shares of the company’s stock were exchanged, compared to its average volume of 512,847. The company has a current ratio of 1.96, a quick ratio of 1.38 and a debt-to-equity ratio of 2.32. The stock has a market cap of $3,620.83, a PE ratio of 20.56, a P/E/G ratio of 2.06 and a beta of 1.85. PolyOne Corporation has a one year low of $31.68 and a one year high of $46.59.
PolyOne Corporation (NYSE:POL) last posted its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $818.50 million during the quarter, compared to analysts’ expectations of $789.32 million. PolyOne Corporation had a negative net margin of 1.87% and a positive return on equity of 27.77%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 EPS. analysts predict that PolyOne Corporation will post 2.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 15th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, December 14th. This is a positive change from PolyOne Corporation’s previous quarterly dividend of $0.14. PolyOne Corporation’s dividend payout ratio is -71.05%.
POL has been the subject of several analyst reports. Zacks Investment Research upgraded PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 18th. BidaskClub upgraded PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. CIBC began coverage on PolyOne Corporation in a report on Thursday, August 17th. They set an “outperform” rating and a $43.00 price objective for the company. Jefferies Group LLC restated a “hold” rating and set a $42.00 price objective on shares of PolyOne Corporation in a report on Friday, September 15th. Finally, KeyCorp set a $47.00 price objective on PolyOne Corporation and gave the stock a “buy” rating in a report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.17.
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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