PolyOne Corp. (NYSE:POL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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. “
A number of other equities research analysts have also recently commented on POL. Goldman Sachs Group Inc. cut shares of PolyOne Corp. from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $38.00 in a research note on Wednesday, July 27th. Jefferies Group reissued a “hold” rating and issued a $40.00 price objective (up from $37.00) on shares of PolyOne Corp. in a research note on Monday, June 13th. Finally, Wellington Shields raised shares of PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $38.00.
Shares of PolyOne Corp. (NYSE:POL) opened at 33.51 on Wednesday. The stock has a market capitalization of $2.82 billion, a P/E ratio of 21.14 and a beta of 1.48. The stock has a 50 day moving average of $33.31 and a 200-day moving average of $34.47. PolyOne Corp. has a 1-year low of $22.35 and a 1-year high of $38.41.
PolyOne Corp. (NYSE:POL) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The firm had revenue of $861.50 million for the quarter, compared to analysts’ expectations of $879.38 million. PolyOne Corp. had a net margin of 4.11% and a return on equity of 25.34%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 EPS. Equities research analysts predict that PolyOne Corp. will post $2.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 16th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. PolyOne Corp.’s dividend payout ratio is currently 30.19%.
Several hedge funds and other institutional investors have recently made changes to their positions in POL. Wellington Management Group LLP raised its position in shares of PolyOne Corp. by 340.8% in the first quarter. Wellington Management Group LLP now owns 3,205,940 shares of the company’s stock valued at $96,979,000 after buying an additional 2,478,711 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of PolyOne Corp. during the second quarter valued at $19,066,000. Emerald Acquisition Ltd. bought a new position in shares of PolyOne Corp. during the second quarter valued at $14,678,000. Teachers Advisors Inc. raised its position in shares of PolyOne Corp. by 248.3% in the second quarter. Teachers Advisors Inc. now owns 469,811 shares of the company’s stock valued at $16,556,000 after buying an additional 334,910 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of PolyOne Corp. by 310.7% in the first quarter. Prudential Financial Inc. now owns 432,119 shares of the company’s stock valued at $13,072,000 after buying an additional 326,916 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.
About PolyOne Corp.
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