Strs Ohio cut its stake in PolyOne Corp. (NYSE:POL) by 4.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 611,000 shares of the company’s stock after selling 28,700 shares during the period. Strs Ohio’s holdings in PolyOne Corp. were worth $21,531,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Virginia Retirement System purchased a new position in shares of PolyOne Corp. during the first quarter valued at about $1,425,000. Pacad Investment Ltd. purchased a new position in shares of PolyOne Corp. during the first quarter valued at about $369,000. Prudential Financial Inc. boosted its position in shares of PolyOne Corp. by 310.7% in the first quarter. Prudential Financial Inc. now owns 432,119 shares of the company’s stock valued at $13,072,000 after buying an additional 326,916 shares during the period. BlackRock Inc. boosted its position in shares of PolyOne Corp. by 8.8% in the first quarter. BlackRock Inc. now owns 34,874 shares of the company’s stock valued at $1,055,000 after buying an additional 2,815 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of PolyOne Corp. by 20.8% in the first quarter. BlackRock Group LTD now owns 63,455 shares of the company’s stock valued at $1,918,000 after buying an additional 10,927 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.
Shares of PolyOne Corp. (NYSE:POL) traded up 2.30% during mid-day trading on Wednesday, reaching $34.28. 722,694 shares of the company traded hands. The firm has a 50-day moving average price of $33.36 and a 200 day moving average price of $34.47. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 21.63 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 issued its earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) 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 company had revenue of $861.50 million for the quarter, compared to analysts’ expectations of $879.38 million. During the same period in the prior year, the business earned $0.57 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts anticipate that PolyOne Corp. will post $2.18 earnings per share for the current year.
The firm also recently announced 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. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, September 14th. PolyOne Corp.’s payout ratio is 30.19%.
Several research analysts have issued reports on POL shares. Jefferies Group reaffirmed a “hold” rating and issued a $40.00 target price (up from $37.00) on shares of PolyOne Corp. in a report on Monday, June 13th. Zacks Investment Research cut shares of PolyOne Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Wellington Shields raised shares of PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, June 30th. Finally, Goldman Sachs Group Inc. cut 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 report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.00.
PolyOne Corp. Company Profile
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