State Board of Administration of Florida Retirement System lowered its holdings in shares of PolyOne Co. (NYSE:POL) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,112 shares of the specialty chemicals company’s stock after selling 1,370 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.06% of PolyOne worth $1,733,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC lifted its position in shares of 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 purchasing an additional 242,480 shares during the last quarter. First Trust Advisors LP lifted its position in shares of PolyOne by 253.4% during the first quarter. First Trust Advisors LP now owns 67,492 shares of the specialty chemicals company’s stock valued at $1,978,000 after buying an additional 48,396 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of PolyOne by 29.1% in the 2nd quarter. Royal Bank of Canada now owns 31,414 shares of the specialty chemicals company’s stock valued at $986,000 after buying an additional 7,074 shares in the last quarter. BlackRock Inc. boosted its stake in PolyOne by 5.2% in the second quarter. BlackRock Inc. now owns 9,859,150 shares of the specialty chemicals company’s stock valued at $309,478,000 after acquiring an additional 491,079 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in PolyOne by 2.3% in the third quarter. Envestnet Asset Management Inc. now owns 23,977 shares of the specialty chemicals company’s stock worth $783,000 after purchasing an additional 544 shares during the last quarter. 91.42% of the stock is owned by institutional investors.
Several research analysts recently weighed in on POL shares. Zacks Investment Research downgraded PolyOne from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. ValuEngine cut PolyOne from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Wells Fargo & Co raised PolyOne from an “equal weight” rating to an “overweight” rating and set a $42.00 price target for the company in a report on Tuesday, January 14th. Finally, TheStreet lowered PolyOne from a “b-” rating to a “c+” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $36.43.
PolyOne (NYSE:POL) last posted its quarterly earnings results on Tuesday, January 28th. The specialty chemicals company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The business had revenue of $658.60 million for the quarter, compared to the consensus estimate of $687.36 million. PolyOne had a return on equity of 24.03% and a net margin of 18.58%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. On average, sell-side analysts predict that PolyOne Co. will post 1.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Tuesday, March 17th will be issued a dividend of $0.203 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Monday, March 16th. PolyOne’s dividend payout ratio (DPR) is 47.93%.
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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