Zacks Investment Research Lowers PolyOne (POL) to Hold

Zacks Investment Research downgraded shares of PolyOne (NYSE:POL) from a buy rating to a hold rating in a research note published on Tuesday morning.

According to Zacks, “PolyOne Corporation provides specialized polymer materials, services and solutions in the United States and internationally. Its Colour, Additives, and Inks segment offers specialized colour and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols etc. The company’s Specialty Engineered Materials segment provides specialty polymer formulations, services, and solutions for designers, assemblers, and processors of thermoplastic materials etc. Its Designed Structures and Solutions segment produce sheet, custom rollstock and specialty film, laminate, and acrylic solutions. The company’s Performance Products and Solutions segment offers vinyl molding and extrusion processors to manufacturers of durable plastic parts and consumer-oriented products. The PolyOne Distribution segment distributes approximately 4,000 grades of engineering and commodity grade resins to custom injection molders and extruders. “

Several other brokerages have also weighed in on POL. Jefferies Group reiterated a hold rating and set a $42.00 price objective on shares of PolyOne in a report on Friday, September 15th. KeyCorp set a $47.00 price objective on shares of PolyOne and gave the stock a buy rating in a report on Thursday, October 26th. Robert W. Baird reiterated a buy rating and set a $42.00 price objective on shares of PolyOne in a report on Thursday, October 12th. ValuEngine upgraded shares of PolyOne from a hold rating to a buy rating in a report on Sunday, December 31st. Finally, SunTrust Banks reiterated a buy rating and set a $42.00 price objective on shares of PolyOne in a report on Friday, October 27th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $44.00.

Shares of PolyOne (POL) traded up $0.26 during mid-day trading on Tuesday, hitting $44.61. 312,000 shares of the stock traded hands, compared to its average volume of 366,433. The stock has a market cap of $3,583.67, a price-to-earnings ratio of -58.70, a P/E/G ratio of 1.80 and a beta of 1.84. PolyOne has a 1-year low of $31.68 and a 1-year high of $46.79. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.38 and a current ratio of 1.96.

PolyOne (NYSE:POL) last announced its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The business had revenue of $818.50 million for the quarter, compared to analyst estimates of $789.32 million. PolyOne had a negative net margin of 1.87% and a positive return on equity of 27.77%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. equities analysts expect that PolyOne will post 2.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, December 14th. This is an increase from PolyOne’s previous quarterly dividend of $0.14. PolyOne’s dividend payout ratio is -92.10%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. increased its position in PolyOne by 3.1% during the 2nd quarter. Alliancebernstein L.P. now owns 3,090,961 shares of the specialty chemicals company’s stock worth $119,744,000 after purchasing an additional 92,253 shares in the last quarter. State Street Corp increased its position in PolyOne by 3.2% during the 2nd quarter. State Street Corp now owns 2,778,681 shares of the specialty chemicals company’s stock worth $107,643,000 after purchasing an additional 86,473 shares in the last quarter. Wells Fargo & Company MN increased its position in PolyOne by 11.8% during the 3rd quarter. Wells Fargo & Company MN now owns 2,343,438 shares of the specialty chemicals company’s stock worth $93,808,000 after purchasing an additional 246,918 shares in the last quarter. Dimensional Fund Advisors LP increased its position in PolyOne by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,099,348 shares of the specialty chemicals company’s stock worth $84,039,000 after purchasing an additional 30,766 shares in the last quarter. Finally, Channing Capital Management LLC increased its position in PolyOne by 0.9% during the 3rd quarter. Channing Capital Management LLC now owns 2,023,226 shares of the specialty chemicals company’s stock worth $80,990,000 after purchasing an additional 17,745 shares in the last quarter. 93.67% of the stock is owned by hedge funds and other institutional investors.

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About PolyOne

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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