Bank of New York Mellon Corp lessened its holdings in shares of PolyOne Corporation (NYSE:POL) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,288,928 shares of the specialty chemicals company’s stock after selling 39,527 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.60% of PolyOne worth $51,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of POL. Acrospire Investment Management LLC boosted its stake in shares of PolyOne by 85.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,601 shares of the specialty chemicals company’s stock worth $101,000 after acquiring an additional 1,200 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of PolyOne by 2.6% during the 2nd quarter. Advisor Group Inc. now owns 3,254 shares of the specialty chemicals company’s stock worth $126,000 after acquiring an additional 84 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of PolyOne during the 2nd quarter worth $143,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PolyOne by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,063 shares of the specialty chemicals company’s stock worth $157,000 after acquiring an additional 317 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in shares of PolyOne by 215.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,249 shares of the specialty chemicals company’s stock valued at $165,000 after buying an additional 2,900 shares in the last quarter. Institutional investors and hedge funds own 93.80% of the company’s stock.
A number of research analysts recently weighed in on the stock. CIBC assumed coverage on shares of PolyOne in a research note on Thursday, August 17th. They set an “outperform” rating and a $43.00 target price on the stock. Oppenheimer assumed coverage on shares of PolyOne in a research note on Wednesday, August 16th. They set an “outperform” rating and a $43.00 target price on the stock. Zacks Investment Research upgraded shares of PolyOne from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Robert W. Baird restated a “buy” rating and set a $42.00 target price on shares of PolyOne in a research note on Thursday, October 12th. Finally, KeyCorp set a $47.00 target price on shares of PolyOne and gave the company a “buy” rating in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $43.17.
PolyOne (NYSE:POL) last released its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $818.50 million for the quarter, compared to analysts’ expectations of $789.32 million. PolyOne had a negative net margin of 1.87% and a positive return on equity of 27.77%. PolyOne’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 EPS. equities research analysts anticipate that PolyOne Corporation will post 2.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th will be paid a $0.175 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.70 annualized dividend and a yield of 1.53%. This is a boost from PolyOne’s previous quarterly dividend of $0.14. PolyOne’s payout ratio is presently -71.05%.
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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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