Deutsche Bank AG lifted its position in PolyOne Co. (NYSE:POL) by 4.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 350,447 shares of the specialty chemicals company’s stock after buying an additional 15,344 shares during the quarter. Deutsche Bank AG’s holdings in PolyOne were worth $10,021,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in POL. Norges Bank bought a new stake in shares of PolyOne in the 4th quarter valued at approximately $28,638,000. Oregon Public Employees Retirement Fund lifted its holdings in PolyOne by 2,760.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 902,816 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 871,249 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in PolyOne by 5,062.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 480,600 shares of the specialty chemicals company’s stock worth $13,745,000 after purchasing an additional 471,290 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in PolyOne by 13.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,330,555 shares of the specialty chemicals company’s stock worth $38,053,000 after purchasing an additional 153,732 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in PolyOne in the 4th quarter worth approximately $4,133,000. 93.53% of the stock is owned by institutional investors and hedge funds.
POL has been the subject of several analyst reports. Zacks Investment Research upgraded PolyOne from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Tuesday, January 8th. Buckingham Research initiated coverage on PolyOne in a report on Tuesday, February 5th. They issued a “buy” rating and a $32.40 target price for the company. Finally, ValuEngine lowered PolyOne from a “sell” rating to a “strong sell” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $38.08.
PolyOne (NYSE:POL) last posted its earnings results on Wednesday, April 17th. The specialty chemicals company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.01). PolyOne had a return on equity of 33.46% and a net margin of 4.52%. The company had revenue of $899.90 million during the quarter, compared to analyst estimates of $922.33 million. During the same quarter last year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Equities analysts expect that PolyOne Co. will post 2.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.70%. PolyOne’s dividend payout ratio (DPR) is presently 32.10%.
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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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