PolyOne Co. (NYSE:POL) Sees Significant Decline in Short Interest

PolyOne Co. (NYSE:POL) was the recipient of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 819,000 shares, a decline of 29.2% from the April 30th total of 1,157,000 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 756,800 shares, the days-to-cover ratio is presently 1.1 days.

Several equities analysts have issued reports on POL shares. Wellington Shields raised PolyOne from a “hold” rating to a “gradually accumulate” rating in a research note on Tuesday, June 11th. Buckingham Research dropped their price target on PolyOne from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Zacks Investment Research lowered PolyOne from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. KeyCorp lowered their target price on PolyOne from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Finally, Northcoast Research raised PolyOne from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. PolyOne presently has an average rating of “Hold” and an average price target of $36.00.

A number of institutional investors have recently made changes to their positions in POL. Norges Bank bought a new stake in PolyOne during the fourth quarter worth $28,638,000. Oregon Public Employees Retirement Fund grew its holdings in PolyOne by 2,760.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 902,816 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 871,249 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in PolyOne by 5,062.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 480,600 shares of the specialty chemicals company’s stock worth $13,745,000 after buying an additional 471,290 shares in the last quarter. Wells Fargo & Company MN grew its holdings in PolyOne by 7.3% during the first quarter. Wells Fargo & Company MN now owns 3,561,551 shares of the specialty chemicals company’s stock worth $104,389,000 after buying an additional 243,372 shares in the last quarter. Finally, FMR LLC grew its holdings in PolyOne by 24,667.3% during the first quarter. FMR LLC now owns 243,463 shares of the specialty chemicals company’s stock worth $7,136,000 after buying an additional 242,480 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Shares of NYSE:POL traded down $0.22 during trading on Wednesday, reaching $29.14. 560,000 shares of the stock were exchanged, compared to its average volume of 637,493. The company has a quick ratio of 1.16, a current ratio of 1.81 and a debt-to-equity ratio of 2.63. PolyOne has a 1-year low of $24.47 and a 1-year high of $45.70. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.21 and a beta of 1.61.

PolyOne (NYSE:POL) last issued its earnings results on Wednesday, April 17th. The specialty chemicals company reported $0.64 earnings per share 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 firm had revenue of $899.90 million for the quarter, compared to analyst estimates of $922.33 million. During the same period in the previous year, the company earned $0.68 earnings per share. PolyOne’s revenue for the quarter was down .2% compared to the same quarter last year. Equities research analysts anticipate that PolyOne will post 2.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Thursday, June 13th. PolyOne’s payout ratio is 32.10%.

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PolyOne Company Profile

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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