Denver Investment Advisors LLC increased its stake in shares of PolyOne Corporation (NYSE:POL) by 6.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 24,238 shares of the specialty chemicals company’s stock after buying an additional 1,535 shares during the period. Denver Investment Advisors LLC’s holdings in PolyOne Corporation were worth $939,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in POL. Advisors Asset Management Inc. boosted its stake in shares of PolyOne Corporation by 9.5% in the second quarter. Advisors Asset Management Inc. now owns 12,955 shares of the specialty chemicals company’s stock valued at $502,000 after buying an additional 1,125 shares during the last quarter. Pitcairn Co. boosted its stake in shares of PolyOne Corporation by 55.2% in the second quarter. Pitcairn Co. now owns 10,078 shares of the specialty chemicals company’s stock valued at $391,000 after buying an additional 3,586 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of PolyOne Corporation by 0.9% in the second quarter. Arizona State Retirement System now owns 34,500 shares of the specialty chemicals company’s stock valued at $1,337,000 after buying an additional 300 shares during the last quarter. Boston Partners boosted its stake in shares of PolyOne Corporation by 1.9% in the second quarter. Boston Partners now owns 201,624 shares of the specialty chemicals company’s stock valued at $7,811,000 after buying an additional 3,759 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of PolyOne Corporation by 7.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 561,286 shares of the specialty chemicals company’s stock valued at $21,745,000 after buying an additional 38,169 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.
PolyOne Corporation (NYSE POL) opened at 36.43 on Friday. PolyOne Corporation has a 12-month low of $28.77 and a 12-month high of $40.88. The company’s market capitalization is $2.98 billion. The firm’s 50 day moving average price is $37.27 and its 200-day moving average price is $36.19.
PolyOne Corporation (NYSE:POL) last announced its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 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 analysts’ expectations of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. On average, equities analysts anticipate that PolyOne Corporation will post $2.21 earnings per share for the current fiscal year.
The business 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 $0.135 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.54 dividend on an annualized basis and a yield of 1.48%. PolyOne Corporation’s dividend payout ratio (DPR) is currently -73.97%.
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Several brokerages recently commented on POL. Zacks Investment Research upgraded PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Friday. CIBC began coverage on PolyOne Corporation in a report on Thursday. They issued an “outperform” rating and a $43.00 target price on the stock. Oppenheimer Holdings, Inc. began coverage on PolyOne Corporation in a report on Wednesday. They issued an “outperform” rating and a $43.00 target price on the stock. Finally, BidaskClub upgraded PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.80.
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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