PolyOne Corporation (POL) Receives Average Rating of “Hold” from Analysts
Shares of PolyOne Corporation (NYSE:POL) have been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $40.25.
Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of PolyOne Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. CIBC assumed coverage on shares of PolyOne Corporation in a report on Thursday, August 17th. They set an “outperform” rating and a $43.00 price objective for the company. Oppenheimer Holdings, Inc. assumed coverage on shares of PolyOne Corporation in a report on Wednesday, August 16th. They set an “outperform” rating and a $43.00 price objective for the company. Finally, BidaskClub raised shares of PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th.
Several institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC increased its holdings in shares of PolyOne Corporation by 4.6% in the second quarter. Lord Abbett & CO. LLC now owns 511,940 shares of the specialty chemicals company’s stock valued at $19,833,000 after purchasing an additional 22,603 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of PolyOne Corporation in the second quarter valued at approximately $227,000. Nomura Holdings Inc. acquired a new stake in shares of PolyOne Corporation in the second quarter valued at approximately $471,000. BlueCrest Capital Management Ltd acquired a new stake in shares of PolyOne Corporation in the second quarter valued at approximately $279,000. Finally, State Street Corp increased its holdings in shares of PolyOne Corporation by 3.2% in the second quarter. State Street Corp now owns 2,778,681 shares of the specialty chemicals company’s stock valued at $107,643,000 after purchasing an additional 86,473 shares in the last quarter. 94.37% of the stock is owned by institutional investors and hedge funds.
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PolyOne Corporation (NYSE POL) opened at 36.35 on Friday. The stock’s 50 day moving average price is $36.44 and its 200 day moving average price is $36.39. The firm’s market capitalization is $2.97 billion. PolyOne Corporation has a 12 month low of $28.77 and a 12 month high of $40.88.
PolyOne Corporation (NYSE:POL) last posted its quarterly earnings data on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. The company 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%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. On average, analysts forecast that PolyOne Corporation will post $2.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Thursday, September 14th. PolyOne Corporation’s dividend payout ratio is currently -73.97%.
About PolyOne Corporation
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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