Washington Trust Bank maintained its stake in shares of PolyOne Corporation (NYSE:POL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,830 shares of the specialty chemicals company’s stock at the end of the second quarter. Washington Trust Bank’s holdings in PolyOne Corporation were worth $110,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PolyOne Corporation by 57.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock valued at $128,000 after buying an additional 1,370 shares during the period. Victory Capital Management Inc. increased its stake in shares of PolyOne Corporation by 46.3% in the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock valued at $144,000 after buying an additional 1,336 shares during the period. Creative Planning increased its stake in shares of PolyOne Corporation by 22.7% in the first quarter. Creative Planning now owns 4,520 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 836 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of PolyOne Corporation by 76.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,895 shares of the specialty chemicals company’s stock valued at $167,000 after buying an additional 2,126 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of PolyOne Corporation during the first quarter valued at approximately $190,000. Hedge funds and other institutional investors own 95.72% of the company’s stock.
Shares of PolyOne Corporation (POL) opened at 35.90 on Friday. The firm’s market capitalization is $2.94 billion. PolyOne Corporation has a 12-month low of $28.77 and a 12-month high of $40.88. The stock has a 50 day moving average of $37.49 and a 200-day moving average of $36.08.
PolyOne Corporation (NYSE:POL) last released its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, meeting analysts’ consensus estimates of $0.63. The business had revenue of $814.10 million during the quarter, compared to analyst estimates of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. PolyOne Corporation’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. On average, equities research analysts predict that PolyOne Corporation will post $2.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, September 14th. PolyOne Corporation’s dividend payout ratio is presently -73.97%.
Several analysts have commented on the stock. BidaskClub downgraded shares of PolyOne Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of PolyOne Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Tuesday, May 23rd. Finally, TheStreet upgraded shares of PolyOne Corporation from a “c+” rating to a “b-” rating in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $39.33.
PolyOne Corporation Company Profile
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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