PolyOne Corp. (POL) Increases Dividend to $0.13 Per Share
PolyOne Corp. (NYSE:POL) announced a quarterly dividend on Thursday, October 13th. Shareholders of record on Friday, December 16th will be given a dividend of 0.1325 per share on Friday, January 6th. This represents a $0.53 annualized dividend and a yield of 1.72%. This is an increase from PolyOne Corp.’s previous quarterly dividend of $0.12.
PolyOne Corp. (NYSE:POL) traded down 2.53% during midday trading on Thursday, reaching $30.84. The company’s stock had a trading volume of 495,051 shares. PolyOne Corp. has a 52 week low of $22.35 and a 52 week high of $38.41. The firm has a market capitalization of $2.59 billion, a P/E ratio of 19.46 and a beta of 1.41. The company’s 50-day moving average is $33.14 and its 200 day moving average is $34.68.
PolyOne Corp. (NYSE:POL) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. PolyOne Corp. had a return on equity of 25.34% and a net margin of 4.11%. The firm had revenue of $861.50 million for the quarter, compared to analyst estimates of $879.38 million. During the same quarter last year, the company posted $0.57 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. Analysts expect that PolyOne Corp. will post $2.17 earnings per share for the current fiscal year.
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A number of equities analysts recently issued reports on the company. Goldman Sachs Group Inc. lowered PolyOne Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $42.00 to $38.00 in a report on Wednesday, July 27th. Zacks Investment Research lowered PolyOne Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Wellington Shields raised PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, June 30th. Finally, Jefferies Group reissued a “hold” rating on shares of PolyOne Corp. in a report on Wednesday, July 6th. 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 company’s stock. The stock presently has an average rating of “Hold” and an average price target of $37.33.
A number of large investors have recently made changes to their positions in the stock. Azimuth Capital Management LLC increased its stake in shares of PolyOne Corp. by 1.5% in the second quarter. Azimuth Capital Management LLC now owns 6,800 shares of the company’s stock worth $240,000 after buying an additional 100 shares during the last quarter. BlackRock Group LTD increased its stake in shares of PolyOne Corp. by 1.3% in the second quarter. BlackRock Group LTD now owns 64,289 shares of the company’s stock worth $2,265,000 after buying an additional 834 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of PolyOne Corp. by 4.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 57,666 shares of the company’s stock worth $2,032,000 after buying an additional 2,551 shares during the last quarter. Pacad Investment Ltd. increased its stake in shares of PolyOne Corp. by 23.8% in the second quarter. Pacad Investment Ltd. now owns 15,090 shares of the company’s stock worth $532,000 after buying an additional 2,900 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of PolyOne Corp. by 76.3% in the second quarter. US Bancorp DE now owns 6,880 shares of the company’s stock worth $242,000 after buying an additional 2,978 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.
PolyOne Corp. Company Profile
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