PolyOne Co. (POL) Cut to “Hold” at Zacks Investment Research
PolyOne Co. (NYSE:POL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “PolyOne Corporation is an international polymer services company with operations in thermoplastic compounds, specialty resins, specialty polymer formulations, engineered films, color and additive systems, elastomer compounding and thermoplastic resin distribution. PolyOne was formed from the consolidation of the former M.A. Hanna Company and The Geon Company. Information on the Company’s products and services can be found at www.polyone.com. “
Several other research firms have also commented on POL. Jefferies Group LLC upgraded PolyOne to a “hold” rating and set a $38.00 price objective for the company in a research note on Thursday, March 2nd. Robert W. Baird increased their price objective on shares of PolyOne from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, January 30th. Finally, TheStreet raised shares of PolyOne from a “c+” rating to a “b-” rating in a report on Monday, April 24th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. PolyOne has a consensus rating of “Hold” and a consensus price target of $39.00.
Shares of PolyOne (NYSE:POL) opened at 37.64 on Friday. The firm has a 50-day moving average price of $36.58 and a 200-day moving average price of $33.98. The stock has a market capitalization of $3.08 billion, a P/E ratio of 18.28 and a beta of 1.60. PolyOne has a 52-week low of $28.77 and a 52-week high of $40.88.
PolyOne (NYSE:POL) last posted its quarterly earnings data on Thursday, April 27th. The specialty chemicals company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The firm had revenue of $899 million during the quarter, compared to analyst estimates of $860.52 million. PolyOne had a return on equity of 24.77% and a net margin of 4.95%. PolyOne’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS. On average, analysts predict that PolyOne will post $2.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 16th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Wednesday, June 14th. PolyOne’s dividend payout ratio (DPR) is presently 27.69%.
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Several institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PolyOne by 57.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock worth $128,000 after buying an additional 1,370 shares during the period. Riverhead Capital Management LLC raised its position in shares of PolyOne by 22.4% in the third quarter. Riverhead Capital Management LLC now owns 4,200 shares of the specialty chemicals company’s stock worth $142,000 after buying an additional 768 shares during the period. Victory Capital Management Inc. raised its position in shares of PolyOne by 46.3% in the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock worth $144,000 after buying an additional 1,336 shares during the period. Tyers Asset Management LLC bought a new position in shares of PolyOne during the fourth quarter worth approximately $150,000. Finally, Creative Planning raised its position in shares of PolyOne by 22.7% in the first quarter. Creative Planning now owns 4,520 shares of the specialty chemicals company’s stock worth $154,000 after buying an additional 836 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. Its segments include Color, Additives and Inks; Specialty Engineered Materials; Designed Structures and Solutions; 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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