Round Table Services LLC purchased a new position in PolyOne Corporation (NYSE:POL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 10,451 shares of the specialty chemicals company’s stock, valued at approximately $405,000.
Several other large investors have also modified their holdings of POL. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PolyOne Corporation by 57.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock worth $128,000 after buying an additional 1,370 shares during the period. Victory Capital Management Inc. raised its stake in shares of PolyOne Corporation by 46.3% in the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock worth $144,000 after buying an additional 1,336 shares during the period. Creative Planning raised its stake in shares of PolyOne Corporation by 22.7% in the first quarter. Creative Planning now owns 4,520 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 836 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of PolyOne Corporation by 76.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,895 shares of the specialty chemicals company’s stock worth $167,000 after buying an additional 2,126 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of PolyOne Corporation during the first quarter worth $190,000. 94.26% of the stock is owned by hedge funds and other institutional investors.
Shares of PolyOne Corporation (NYSE:POL) traded down 1.00% during midday trading on Thursday, reaching $38.54. The company’s stock had a trading volume of 124,426 shares. PolyOne Corporation has a one year low of $28.77 and a one year high of $40.88. The stock’s 50-day moving average is $38.03 and its 200-day moving average is $35.64. The company has a market capitalization of $3.15 billion, a P/E ratio of 18.72 and a beta of 1.71.
PolyOne Corporation (NYSE:POL) last released its quarterly earnings results on Thursday, April 27th. The specialty chemicals company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. PolyOne Corporation had a return on equity of 24.50% and a net margin of 5.10%. The company had revenue of $899 million for the quarter, compared to analysts’ expectations of $860.52 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts expect that PolyOne Corporation will post $2.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Thursday, September 14th. PolyOne Corporation’s dividend payout ratio (DPR) is 26.21%.
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A number of brokerages have weighed in on POL. Zacks Investment Research raised PolyOne Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Wednesday, May 3rd. BidaskClub raised PolyOne Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, TheStreet raised PolyOne Corporation from a “c+” rating to a “b-” rating in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. PolyOne Corporation has a consensus rating of “Hold” and an average target price of $39.00.
About PolyOne Corporation
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. Its segments include Color, Additives and Inks; Specialty Engineered Materials; Designed Structures and Solutions; 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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