Channing Capital Management LLC trimmed its holdings in PolyOne Co. (NYSE:POL) by 15.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,623,306 shares of the specialty chemicals company’s stock after selling 295,932 shares during the quarter. PolyOne makes up approximately 2.6% of Channing Capital Management LLC’s holdings, making the stock its 9th biggest position. Channing Capital Management LLC owned 2.03% of PolyOne worth $70,971,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. First Hawaiian Bank bought a new position in shares of PolyOne during the 3rd quarter valued at approximately $109,000. Itau Unibanco Holding S.A. bought a new position in shares of PolyOne during the 2nd quarter valued at approximately $171,000. Advisors Asset Management Inc. boosted its position in shares of PolyOne by 5,112.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 350,783 shares of the specialty chemicals company’s stock valued at $205,000 after acquiring an additional 344,053 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of PolyOne by 64.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,521 shares of the specialty chemicals company’s stock valued at $239,000 after acquiring an additional 2,161 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of PolyOne during the 3rd quarter valued at approximately $249,000. Institutional investors and hedge funds own 91.61% of the company’s stock.
In other news, Director Robert E. Abernathy purchased 10,000 shares of the business’s stock in a transaction dated Thursday, October 25th. The shares were purchased at an average price of $30.64 per share, for a total transaction of $306,400.00. Following the completion of the purchase, the director now owns 11,593 shares in the company, valued at approximately $355,209.52. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, SVP M. John Jr. Midea bought 1,050 shares of the business’s stock in a transaction on Friday, October 26th. The stock was bought at an average price of $31.08 per share, for a total transaction of $32,634.00. Following the purchase, the senior vice president now directly owns 3,836 shares of the company’s stock, valued at $119,222.88. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 17,050 shares of company stock worth $529,174. Insiders own 1.30% of the company’s stock.
POL stock opened at $33.62 on Monday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.27 and a current ratio of 1.86. PolyOne Co. has a twelve month low of $30.03 and a twelve month high of $47.48. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.74.
PolyOne (NYSE:POL) last released its earnings results on Wednesday, October 24th. The specialty chemicals company reported $0.62 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.62. The business had revenue of $883.00 million for the quarter, compared to analyst estimates of $887.93 million. PolyOne had a return on equity of 32.72% and a net margin of 5.33%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. Sell-side analysts predict that PolyOne Co. will post 2.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 9th. Stockholders of record on Friday, December 14th will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.78 annualized dividend and a dividend yield of 2.32%. This is a positive change from PolyOne’s previous quarterly dividend of $0.18. PolyOne’s dividend payout ratio (DPR) is currently 31.67%.
A number of analysts recently issued reports on POL shares. Zacks Investment Research upgraded PolyOne from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine lowered PolyOne from a “buy” rating to a “hold” rating in a research note on Saturday, September 1st. Wellington Shields lowered PolyOne from a “gradually accumulate” rating to a “hold” rating in a research note on Wednesday, October 24th. Robert W. Baird reduced their target price on PolyOne from $46.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. Finally, Oppenheimer reduced their target price on PolyOne from $50.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $43.00.
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PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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