PolyOne (NYSE:POL) Raised to Gradually Accumulate at Wellington Shields

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Wellington Shields upgraded shares of PolyOne (NYSE:POL) from a hold rating to a gradually accumulate rating in a report issued on Tuesday morning, The Fly reports.

A number of other research analysts have also commented on POL. Zacks Investment Research lowered PolyOne from a hold rating to a sell rating in a report on Thursday, April 18th. Buckingham Research cut their price target on PolyOne from $40.00 to $36.00 and set a buy rating for the company in a report on Thursday, April 18th. ValuEngine lowered PolyOne from a sell rating to a strong sell rating in a report on Thursday, April 18th. Northcoast Research upgraded PolyOne from a neutral rating to a buy rating and set a $36.00 price target for the company in a report on Thursday, April 18th. Finally, KeyCorp cut their price target on PolyOne from $36.00 to $34.00 and set an overweight rating for the company in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. PolyOne currently has an average rating of Hold and a consensus price target of $36.00.

Shares of POL stock opened at $29.62 on Tuesday. PolyOne has a 12 month low of $24.47 and a 12 month high of $45.70. The company has a market cap of $2.07 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.15 and a beta of 1.61. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.81 and a quick ratio of 1.16.

PolyOne (NYSE:POL) last issued its quarterly earnings results on Wednesday, April 17th. The specialty chemicals company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). PolyOne had a return on equity of 32.76% and a net margin of 4.28%. The business had revenue of $899.90 million for the quarter, compared to analyst estimates of $922.33 million. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Equities analysts anticipate that PolyOne will post 2.47 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.63%. PolyOne’s payout ratio is 32.10%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System raised its stake in shares of PolyOne by 0.9% in the fourth quarter. Arizona State Retirement System now owns 57,290 shares of the specialty chemicals company’s stock valued at $1,638,000 after purchasing an additional 528 shares in the last quarter. Texas Permanent School Fund grew its position in PolyOne by 1.0% in the first quarter. Texas Permanent School Fund now owns 52,772 shares of the specialty chemicals company’s stock valued at $1,547,000 after acquiring an additional 539 shares during the period. Magnus Financial Group LLC grew its position in PolyOne by 7.2% in the first quarter. Magnus Financial Group LLC now owns 8,152 shares of the specialty chemicals company’s stock valued at $239,000 after acquiring an additional 548 shares during the period. ETRADE Capital Management LLC grew its position in PolyOne by 3.4% in the fourth quarter. ETRADE Capital Management LLC now owns 24,548 shares of the specialty chemicals company’s stock valued at $702,000 after acquiring an additional 811 shares during the period. Finally, Rhumbline Advisers grew its position in PolyOne by 0.3% in the first quarter. Rhumbline Advisers now owns 257,151 shares of the specialty chemicals company’s stock valued at $7,537,000 after acquiring an additional 894 shares during the period. Institutional investors and hedge funds own 92.47% of the company’s stock.

About PolyOne

PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols, and vinyl slush molding solutions.

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