Teacher Retirement System of Texas increased its stake in PolyOne Corp. (NYSE:POL) by 13.8% during the second quarter, Holdings Channel reports. The firm owned 12,050 shares of the company’s stock after buying an additional 1,461 shares during the period. Teacher Retirement System of Texas’ holdings in PolyOne Corp. were worth $425,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of POL. Magnetar Financial LLC raised its position in shares of PolyOne Corp. by 10.4% in the first quarter. Magnetar Financial LLC now owns 13,317 shares of the company’s stock valued at $403,000 after buying an additional 1,254 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in PolyOne Corp. by 0.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 137,564 shares of the company’s stock valued at $4,161,000 after buying an additional 1,106 shares during the last quarter. Wellington Management Group LLP raised its stake in PolyOne Corp. by 340.8% in the first quarter. Wellington Management Group LLP now owns 3,205,940 shares of the company’s stock valued at $96,979,000 after buying an additional 2,478,711 shares during the last quarter. Geode Capital Management LLC raised its stake in PolyOne Corp. by 2.3% in the first quarter. Geode Capital Management LLC now owns 569,424 shares of the company’s stock valued at $17,224,000 after buying an additional 12,906 shares during the last quarter. Finally, Nicholas Investment Partners LP acquired a new stake in PolyOne Corp. during the first quarter valued at about $2,824,000. 92.51% of the stock is owned by hedge funds and other institutional investors.
PolyOne Corp. (NYSE:POL) traded down 3.09% during midday trading on Friday, reaching $32.94. 586,674 shares of the company were exchanged. The firm’s 50-day moving average is $33.28 and its 200-day moving average is $34.63. PolyOne Corp. has a one year low of $22.35 and a one year high of $38.41. The firm has a market cap of $2.77 billion, a P/E ratio of 20.78 and a beta of 1.41.
PolyOne Corp. (NYSE:POL) last announced its earnings results on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, topping 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 company earned $861.50 million during the quarter, compared to analysts’ expectations of $879.38 million. During the same period last year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts expect that PolyOne Corp. will post $2.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Friday, September 16th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Wednesday, September 14th. PolyOne Corp.’s dividend payout ratio is currently 30.19%.
Several equities research analysts have recently issued reports on the stock. Goldman Sachs Group Inc. lowered shares of PolyOne Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $38.00 in a research report on Wednesday, July 27th. Jefferies Group reissued a “hold” rating and issued a $40.00 price objective (up previously from $37.00) on shares of PolyOne Corp. in a research report on Monday, June 13th. Wellington Shields raised shares of PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, June 30th. Finally, Zacks Investment Research lowered shares of PolyOne Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. PolyOne Corp. currently has a consensus rating of “Hold” and an average price target of $38.00.
About PolyOne Corp.
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