Investors Purchase Large Volume of Call Options on PolyOne (POL)

PolyOne Corporation (NYSE:POL) was the target of unusually large options trading activity on Monday. Traders bought 1,308 call options on the company. This is an increase of approximately 1,146% compared to the average daily volume of 105 call options.

POL has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of PolyOne from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Robert W. Baird reaffirmed a “buy” rating and issued a $42.00 target price on shares of PolyOne in a research report on Thursday, October 12th. Jefferies Group reaffirmed a “hold” rating and issued a $42.00 target price on shares of PolyOne in a research report on Friday, September 15th. SunTrust Banks reaffirmed a “buy” rating and issued a $42.00 target price on shares of PolyOne in a research report on Friday, October 27th. Finally, KeyCorp set a $47.00 target price on shares of PolyOne and gave the stock a “buy” rating in a research report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $43.17.

Shares of PolyOne (NYSE POL) opened at $44.22 on Friday. PolyOne has a 1 year low of $31.68 and a 1 year high of $46.79. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.38 and a current ratio of 1.96. The stock has a market cap of $3,613.56, a price-to-earnings ratio of 20.51, a PEG ratio of 2.06 and a beta of 1.83.

PolyOne (NYSE:POL) last issued its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. PolyOne had a negative net margin of 1.87% and a positive return on equity of 27.77%. The firm had revenue of $818.50 million during the quarter, compared to the consensus estimate of $789.32 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. sell-side analysts forecast that PolyOne will post 2.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 15th will be given a dividend of $0.175 per share. This is an increase from PolyOne’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, December 14th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.58%. PolyOne’s payout ratio is presently -71.05%.

Several hedge funds have recently modified their holdings of the company. Advisor Group Inc. grew its position in shares of PolyOne by 2.6% during the 2nd quarter. Advisor Group Inc. now owns 3,254 shares of the specialty chemicals company’s stock valued at $126,000 after acquiring an additional 84 shares during the period. Amalgamated Bank grew its position in shares of PolyOne by 1.5% during the 2nd quarter. Amalgamated Bank now owns 11,704 shares of the specialty chemicals company’s stock valued at $453,000 after acquiring an additional 175 shares during the period. Arizona State Retirement System grew its position in shares of PolyOne by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 34,500 shares of the specialty chemicals company’s stock valued at $1,337,000 after acquiring an additional 300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of PolyOne by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,063 shares of the specialty chemicals company’s stock valued at $157,000 after acquiring an additional 317 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its position in shares of PolyOne by 2.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 14,510 shares of the specialty chemicals company’s stock valued at $511,000 after acquiring an additional 350 shares during the period. 93.80% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The correct version of this piece can be viewed at https://ledgergazette.com/2017/12/16/investors-purchase-large-volume-of-call-options-on-polyone-pol.html.

About PolyOne

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.

Receive News & Ratings for PolyOne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PolyOne and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply