Tocqueville Asset Management L.P. lowered its position in shares of PolyOne Corporation (NYSE:POL) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 361,027 shares of the specialty chemicals company’s stock after selling 10,000 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.45% of PolyOne Corporation worth $14,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in shares of PolyOne Corporation by 19.8% during the 1st quarter. Legal & General Group Plc now owns 78,003 shares of the specialty chemicals company’s stock worth $2,659,000 after buying an additional 12,873 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of PolyOne Corporation by 27,668.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,172,679 shares of the specialty chemicals company’s stock worth $45,429,000 after buying an additional 1,168,456 shares during the last quarter. Keybank National Association OH acquired a new stake in shares of PolyOne Corporation during the 2nd quarter worth approximately $1,240,000. Strs Ohio increased its holdings in shares of PolyOne Corporation by 6.0% during the 2nd quarter. Strs Ohio now owns 8,800 shares of the specialty chemicals company’s stock worth $340,000 after buying an additional 500 shares during the last quarter. Finally, WBI Investments Inc. increased its holdings in shares of PolyOne Corporation by 13.7% during the 2nd quarter. WBI Investments Inc. now owns 23,084 shares of the specialty chemicals company’s stock worth $894,000 after buying an additional 2,783 shares during the last quarter. Institutional investors and hedge funds own 93.98% of the company’s stock.
PolyOne Corporation (NYSE:POL) last released its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The business had revenue of $818.50 million during the quarter, compared to analyst estimates of $789.32 million. PolyOne Corporation had a negative net margin of 1.87% and a positive return on equity of 27.77%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.52%. This is a positive change from PolyOne Corporation’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, December 14th. PolyOne Corporation’s dividend payout ratio (DPR) is presently -71.05%.
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Several analysts recently weighed in on POL shares. Zacks Investment Research downgraded shares of PolyOne Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Jefferies Group LLC reiterated a “hold” rating and issued a $42.00 target price on shares of PolyOne Corporation in a report on Friday, September 15th. BidaskClub downgraded shares of PolyOne Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Robert W. Baird reiterated a “buy” rating and issued a $42.00 target price on shares of PolyOne Corporation in a report on Thursday, October 12th. Finally, Oppenheimer Holdings, Inc. started coverage on shares of PolyOne Corporation in a report on Wednesday, August 16th. They issued an “outperform” rating and a $43.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $43.17.
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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