PolyOne Corp. (NYSE:POL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “PolyOne Corporation is an international polymer services company with operations in thermoplastic compounds, specialty resins, specialty polymer formulations, engineered films, color and additive systems, elastomer compounding and thermoplastic resin distribution. PolyOne was formed from the consolidation of the former M.A. Hanna Company and The Geon Company. Information on the Company’s products and services can be found at www.polyone.com. “
POL has been the subject of several other research reports. Jefferies Group reissued a “hold” rating on shares of PolyOne Corp. in a report on Wednesday, July 6th. Goldman Sachs Group Inc. cut shares of PolyOne Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the company from $42.00 to $38.00 in a research report on Wednesday, July 27th. Finally, Wellington Shields upgraded shares of PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.00.
Shares of PolyOne Corp. (NYSE:POL) opened at 33.51 on Wednesday. The firm’s 50-day moving average price is $33.39 and its 200 day moving average price is $34.47. The company has a market capitalization of $2.82 billion, a PE ratio of 21.14 and a beta of 1.48. PolyOne Corp. has a 52-week low of $22.35 and a 52-week high of $38.41.
PolyOne Corp. (NYSE:POL) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. PolyOne Corp. had a net margin of 4.11% and a return on equity of 25.34%. The business earned $861.50 million during the quarter, compared to the consensus estimate of $879.38 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that PolyOne Corp. will post $2.18 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Friday, September 16th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, September 14th. PolyOne Corp.’s dividend payout ratio (DPR) is currently 30.19%.
A number of hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of PolyOne Corp. by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,830 shares of the company’s stock worth $100,000 after buying an additional 1,234 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of PolyOne Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 5,076 shares of the company’s stock worth $179,000 after buying an additional 2,119 shares in the last quarter. Capstone Asset Management Co. bought a new position in shares of PolyOne Corp. during the second quarter worth approximately $202,000. Dynamic Technology Lab Private Ltd bought a new position in shares of PolyOne Corp. during the second quarter worth approximately $205,000. Finally, Jane Street Group LLC bought a new position in shares of PolyOne Corp. during the second quarter worth approximately $217,000. 92.51% of the stock is currently owned by institutional investors.
About PolyOne Corp.
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