Nomura Holdings Inc. reduced its position in shares of PolyOne Corp. (NYSE:POL) by 68.4% during the second quarter, Holdings Channel reports. The firm owned 7,900 shares of the company’s stock after selling 17,133 shares during the period. Nomura Holdings Inc.’s holdings in PolyOne Corp. were worth $278,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in POL. Mason Street Advisors LLC acquired a new position in PolyOne Corp. during the second quarter worth $1,351,000. Public Employees Retirement System of Ohio increased its position in shares of PolyOne Corp. by 1.2% in the second quarter. Public Employees Retirement System of Ohio now owns 51,593 shares of the company’s stock worth $1,818,000 after buying an additional 595 shares during the period. Calvert Investment Management Inc. increased its position in shares of PolyOne Corp. by 34.9% in the second quarter. Calvert Investment Management Inc. now owns 11,008 shares of the company’s stock worth $388,000 after buying an additional 2,846 shares during the period. Stifel Financial Corp increased its position in shares of PolyOne Corp. by 5.6% in the second quarter. Stifel Financial Corp now owns 100,300 shares of the company’s stock worth $3,534,000 after buying an additional 5,342 shares during the period. Finally, Amalgamated Bank increased its position in shares of PolyOne Corp. by 3.6% in the second quarter. Amalgamated Bank now owns 10,138 shares of the company’s stock worth $344,000 after buying an additional 351 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.
Shares of PolyOne Corp. (NYSE:POL) opened at 33.51 on Friday. PolyOne Corp. has a one year low of $22.35 and a one year high of $38.41. The company has a market cap of $2.82 billion, a P/E ratio of 21.14 and a beta of 1.48. The company’s 50 day moving average is $33.31 and its 200 day moving average is $34.47.
PolyOne Corp. (NYSE:POL) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $861.50 million for the quarter, compared to the consensus estimate of $879.38 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts predict that PolyOne Corp. will post $2.18 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.48 annualized dividend and a yield of 1.43%. PolyOne Corp.’s payout ratio is 30.19%.
A number of brokerages have recently commented on POL. Goldman Sachs Group Inc. downgraded shares of PolyOne Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the company 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 downgraded shares of PolyOne Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $38.00.
PolyOne Corp. Company Profile
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