Raymond James & Associates lowered its stake in shares of PolyOne Co. (NYSE:POL) by 35.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,935 shares of the specialty chemicals company’s stock after selling 4,922 shares during the quarter. Raymond James & Associates’ holdings in PolyOne were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in the stock. Texas Permanent School Fund boosted its position in PolyOne by 3.8% during the 4th quarter. Texas Permanent School Fund now owns 52,233 shares of the specialty chemicals company’s stock valued at $1,494,000 after purchasing an additional 1,934 shares during the period. Bank of New York Mellon Corp boosted its position in PolyOne by 13.1% during 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 acquiring an additional 153,732 shares during the period. ETRADE Capital Management LLC boosted its position in PolyOne by 3.4% during the 4th quarter. ETRADE Capital Management LLC now owns 24,548 shares of the specialty chemicals company’s stock worth $702,000 after acquiring an additional 811 shares during the period. Massachusetts Financial Services Co. MA boosted its position in PolyOne by 8.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,446 shares of the specialty chemicals company’s stock worth $385,000 after acquiring an additional 1,047 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in PolyOne during the 4th quarter worth $308,000. Institutional investors and hedge funds own 93.71% of the company’s stock.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded PolyOne from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Tuesday, January 8th. Buckingham Research began coverage on PolyOne in a research report on Tuesday, February 5th. They set a “buy” rating and a $32.40 price target for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $38.08.
PolyOne (NYSE:POL) last announced its earnings results on Tuesday, January 29th. The specialty chemicals company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $834.00 million for the quarter, compared to analyst estimates of $821.90 million. PolyOne had a return on equity of 33.46% and a net margin of 4.52%. PolyOne’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. Equities research analysts predict that PolyOne Co. will post 2.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Thursday, March 14th. PolyOne’s dividend payout ratio (DPR) is presently 32.10%.
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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