SG Americas Securities LLC lifted its stake in PolyOne Co. (NYSE:POL) by 180.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 40,642 shares of the specialty chemicals company’s stock after purchasing an additional 26,151 shares during the quarter. SG Americas Securities LLC’s holdings in PolyOne were worth $1,777,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Hawaiian Bank acquired a new position in PolyOne during the 3rd quarter valued at about $109,000. Itau Unibanco Holding S.A. acquired a new position in PolyOne during the 2nd quarter valued at about $171,000. Tower Research Capital LLC TRC increased its position in PolyOne by 64.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,521 shares of the specialty chemicals company’s stock valued at $239,000 after buying an additional 2,161 shares in the last quarter. Acadian Asset Management LLC acquired a new position in PolyOne during the 3rd quarter valued at about $249,000. Finally, Verition Fund Management LLC acquired a new position in PolyOne during the 2nd quarter valued at about $274,000. 92.45% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:POL opened at $33.62 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.27 and a debt-to-equity ratio of 2.14. The stock has a market cap of $2.68 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.73. PolyOne Co. has a 1 year low of $30.03 and a 1 year high of $47.48.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 9th. Stockholders of record on Friday, December 14th will be issued a $0.195 dividend. The ex-dividend date is Thursday, December 13th. This is a positive change from PolyOne’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.32%. PolyOne’s dividend payout ratio is currently 31.67%.
Several research analysts recently issued reports on POL shares. KeyCorp reaffirmed an “overweight” rating and set a $43.00 target price (down from $50.00) on shares of PolyOne in a research report on Thursday, October 25th. Zacks Investment Research raised PolyOne from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. ValuEngine lowered PolyOne from a “buy” rating to a “hold” rating in a research report on Saturday, September 1st. Wellington Shields lowered PolyOne from a “gradually accumulate” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, Oppenheimer reduced their target price on PolyOne from $50.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $43.00.
In other news, Director Robert E. Abernathy acquired 10,000 shares of the business’s stock in a transaction dated Thursday, October 25th. The shares were acquired at an average cost of $30.64 per share, with a total value of $306,400.00. Following the completion of the acquisition, the director now owns 11,593 shares of the company’s stock, valued at $355,209.52. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP J Scott Horn acquired 6,000 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was purchased at an average cost of $31.69 per share, for a total transaction of $190,140.00. Following the completion of the acquisition, the senior vice president now directly owns 10,271 shares of the company’s stock, valued at approximately $325,487.99. The disclosure for this purchase can be found here. Insiders bought 17,050 shares of company stock worth $529,174 over the last three months. Corporate insiders own 1.30% of the company’s stock.
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PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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