Jefferies Group LLC reiterated their hold rating on shares of PolyOne Corporation (NYSE:POL) in a research note issued to investors on Friday. Jefferies Group LLC currently has a $42.00 price objective on the specialty chemicals company’s stock.
A number of other brokerages have also commented on POL. Zacks Investment Research lowered shares of PolyOne Corporation from a buy rating to a hold rating in a research note on Wednesday, June 14th. BidaskClub upgraded shares of PolyOne Corporation from a sell rating to a hold rating in a research note on Wednesday, July 5th. CIBC assumed coverage on shares of PolyOne Corporation in a research note on Thursday, August 17th. They set an outperform rating and a $43.00 price target for the company. Finally, Oppenheimer Holdings, Inc. assumed coverage on shares of PolyOne Corporation in a research note on Wednesday, August 16th. They issued an outperform rating and a $43.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $41.60.
PolyOne Corporation (POL) opened at 37.66 on Friday. PolyOne Corporation has a 52-week low of $28.77 and a 52-week high of $40.88. The company’s market cap is $3.08 billion. The company has a 50-day moving average of $36.40 and a 200-day moving average of $36.55.
PolyOne Corporation (NYSE:POL) last announced its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.63. The business had revenue of $814.10 million during the quarter, compared to analyst estimates of $812.52 million. PolyOne Corporation had a negative net margin of 1.75% and a positive return on equity of 25.84%. PolyOne Corporation’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 EPS. On average, equities research analysts expect that PolyOne Corporation will post $2.21 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.54 annualized dividend and a dividend yield of 1.43%. PolyOne Corporation’s payout ratio is -73.97%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of PolyOne Corporation by 13,264.4% in the 1st quarter. BlackRock Inc. now owns 9,786,179 shares of the specialty chemicals company’s stock worth $333,610,000 after acquiring an additional 9,712,953 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of PolyOne Corporation by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 7,030,120 shares of the specialty chemicals company’s stock worth $239,657,000 after acquiring an additional 295,988 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of PolyOne Corporation by 3.1% in the 2nd quarter. Alliancebernstein L.P. now owns 3,090,961 shares of the specialty chemicals company’s stock worth $119,744,000 after acquiring an additional 92,253 shares in the last quarter. State Street Corp grew its stake in shares of PolyOne Corporation by 3.2% in the 2nd quarter. State Street Corp now owns 2,778,681 shares of the specialty chemicals company’s stock worth $107,643,000 after acquiring an additional 86,473 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its stake in shares of PolyOne Corporation by 5.6% in the 1st quarter. TimesSquare Capital Management LLC now owns 2,150,899 shares of the specialty chemicals company’s stock worth $73,324,000 after acquiring an additional 114,415 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.
PolyOne Corporation Company Profile
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.
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