PolyOne Co. (POL) Stake Lessened by Stanley Laman Group Ltd.

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Stanley Laman Group Ltd. lessened its stake in shares of PolyOne Co. (NYSE:POL) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,028 shares of the specialty chemicals company’s stock after selling 8,099 shares during the quarter. PolyOne comprises about 1.2% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 20th biggest holding. Stanley Laman Group Ltd. owned 0.15% of PolyOne worth $5,073,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in POL. BlackRock Inc. boosted its holdings in shares of PolyOne by 6.8% in the second quarter. BlackRock Inc. now owns 9,338,968 shares of the specialty chemicals company’s stock worth $403,631,000 after buying an additional 596,343 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of PolyOne by 0.6% in the second quarter. Wells Fargo & Company MN now owns 2,726,854 shares of the specialty chemicals company’s stock worth $117,855,000 after buying an additional 17,590 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of PolyOne by 0.8% in the second quarter. Jennison Associates LLC now owns 1,664,386 shares of the specialty chemicals company’s stock worth $71,935,000 after buying an additional 13,378 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of PolyOne by 14.8% in the second quarter. Voya Investment Management LLC now owns 1,508,290 shares of the specialty chemicals company’s stock worth $65,188,000 after buying an additional 194,166 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of PolyOne by 3.3% in the second quarter. Victory Capital Management Inc. now owns 1,447,057 shares of the specialty chemicals company’s stock worth $62,541,000 after buying an additional 46,555 shares during the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

POL has been the topic of a number of research reports. ValuEngine raised shares of PolyOne from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Zacks Investment Research downgraded shares of PolyOne from a “hold” rating to a “sell” rating in a report on Friday, July 20th. SunTrust Banks downgraded shares of PolyOne from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Wellington Shields downgraded shares of PolyOne from a “gradually accumulate” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $43.00 price target (down previously from $50.00) on shares of PolyOne in a report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. PolyOne presently has an average rating of “Hold” and an average target price of $43.00.

NYSE:POL traded up $1.17 during trading hours on Tuesday, hitting $32.28. 46,261 shares of the stock traded hands, compared to its average volume of 651,199. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.86 and a quick ratio of 1.27. PolyOne Co. has a 1 year low of $30.03 and a 1 year high of $47.48. The company has a market capitalization of $2.46 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.19 and a beta of 1.44.

PolyOne (NYSE:POL) last issued its quarterly earnings results on Wednesday, October 24th. The specialty chemicals company reported $0.62 earnings per share for the quarter, meeting the consensus estimate of $0.62. PolyOne had a net margin of 5.33% and a return on equity of 32.72%. The business had revenue of $883.00 million for the quarter, compared to the consensus estimate of $887.93 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts anticipate 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. Shareholders of record on Friday, December 14th will be issued a dividend of $0.195 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.78 annualized dividend and a yield of 2.42%. This is an increase from PolyOne’s previous quarterly dividend of $0.18. PolyOne’s payout ratio is currently 31.67%.

In other news, CEO Robert M. Patterson sold 20,000 shares of PolyOne stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $43.61, for a total transaction of $872,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert E. Abernathy acquired 10,000 shares of PolyOne stock in a transaction dated Thursday, October 25th. The shares were bought at an average price of $30.64 per share, for a total transaction of $306,400.00. Following the transaction, the director now owns 11,593 shares of the company’s stock, valued at $355,209.52. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

About PolyOne

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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Institutional Ownership by Quarter for PolyOne (NYSE:POL)

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