First Trust Advisors LP increased its stake in PolyOne Corp. (NYSE:POL) by 39.3% during the second quarter, Holdings Channel reports. The institutional investor owned 37,005 shares of the company’s stock after buying an additional 10,438 shares during the period. First Trust Advisors LP’s holdings in PolyOne Corp. were worth $1,304,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virginia Retirement System bought a new position in PolyOne Corp. during the first quarter valued at about $1,425,000. Pacad Investment Ltd. bought a new position in PolyOne Corp. during the first quarter valued at about $369,000. Prudential Financial Inc. raised its position in 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 in the last quarter. BlackRock Inc. raised its position in PolyOne Corp. by 8.8% in the first quarter. BlackRock Inc. now owns 34,874 shares of the company’s stock valued at $1,055,000 after buying an additional 2,815 shares in the last quarter. Finally, BlackRock Group LTD raised its position in PolyOne Corp. by 20.8% in the first quarter. BlackRock Group LTD now owns 63,455 shares of the company’s stock valued at $1,918,000 after buying an additional 10,927 shares in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.
PolyOne Corp. (NYSE:POL) traded up 0.90% during trading on Friday, reaching $33.81. The company had a trading volume of 1,476,035 shares. PolyOne Corp. has a 12-month low of $22.35 and a 12-month high of $38.41. The firm has a market capitalization of $2.84 billion, a PE ratio of 21.33 and a beta of 1.48. The firm’s 50 day moving average price is $33.30 and its 200 day moving average price is $34.50.
PolyOne Corp. (NYSE:POL) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The business earned $861.50 million during the quarter, compared to the consensus estimate of $879.38 million. PolyOne Corp. had a return on equity of 25.34% and a net margin of 4.11%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. Analysts anticipate that PolyOne Corp. will post $2.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Friday, September 16th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.48 annualized dividend and a yield of 1.42%. PolyOne Corp.’s dividend payout ratio (DPR) is presently 30.19%.
POL has been the subject of several recent analyst reports. Jefferies Group reiterated a “hold” rating and set a $40.00 price objective (up from $37.00) on shares of PolyOne Corp. in a research note on Monday, June 13th. Zacks Investment Research cut PolyOne Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Wellington Shields upgraded PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, June 30th. Finally, Goldman Sachs Group Inc. cut PolyOne Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $38.00 in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. PolyOne Corp. presently has a consensus rating of “Hold” and a consensus price target of $38.00.
PolyOne Corp. Company Profile
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