Tocqueville Asset Management L.P. reduced its position in shares of PolyOne Corp. (NYSE:POL) by 23.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 406,052 shares of the company’s stock after selling 127,620 shares during the period. Tocqueville Asset Management L.P.’s holdings in PolyOne Corp. were worth $14,309,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. LS Investment Advisors LLC raised 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 during the last quarter. Capstone Asset Management Co. bought a new position in shares of PolyOne Corp. during the second quarter worth about $202,000. Oakbrook Investments LLC bought a new position in shares of PolyOne Corp. during the second quarter worth about $222,000. Adams Diversified Equity Fund Inc. bought a new position in shares of PolyOne Corp. during the second quarter worth about $352,000. Finally, Pacad Investment Ltd. bought a new position in shares of PolyOne Corp. during the first quarter worth about $369,000. Institutional investors own 92.51% of the company’s stock.
Shares of PolyOne Corp. (NYSE:POL) traded up 1.33% during midday trading on Friday, reaching $31.25. 247,170 shares of the company’s stock traded hands. PolyOne Corp. has a 52-week low of $22.35 and a 52-week high of $38.41. The stock has a 50-day moving average price of $33.06 and a 200-day moving average price of $34.65. The stock has a market cap of $2.63 billion, a P/E ratio of 19.72 and a beta of 1.41.
PolyOne Corp. (NYSE:POL) last released its earnings results 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 firm had revenue of $861.50 million for the quarter, compared to analyst estimates of $879.38 million. During the same period last year, the firm earned $0.57 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts forecast that PolyOne Corp. will post $2.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 16th will be issued a $0.1325 dividend. This is a positive change from PolyOne Corp.’s previous quarterly dividend of $0.12. This represents a $0.53 annualized dividend and a yield of 1.72%. PolyOne Corp.’s dividend payout ratio (DPR) is currently 30.19%.
A number of equities analysts have recently issued reports on POL shares. Zacks Investment Research upgraded shares of PolyOne Corp. from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Saturday, July 30th. Wellington Shields upgraded shares of PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, June 30th. Jefferies Group reiterated a “hold” rating on shares of PolyOne Corp. in a research report on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. lowered shares of PolyOne Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $38.00 in a research 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 assigned a buy rating to the company. PolyOne Corp. currently has an average rating of “Hold” and a consensus price target of $37.33.
About PolyOne Corp.
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