PolyOne Corp. (POL) Sees Unusually-High Trading Volume
PolyOne Corp. (NYSE:POL) saw unusually-high trading volume on Friday . Approximately 553,541 shares changed hands during mid-day trading, an increase of 43% from the previous session’s volume of 386,577 shares.The stock last traded at $33.74 and had previously closed at $33.90.
POL has been the topic of a number of research reports. Zacks Investment Research downgraded PolyOne Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Seaport Global Securities upgraded PolyOne Corp. from an “accumulate” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $41.00 in a report on Wednesday, April 27th. Wellington Shields upgraded PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, June 30th. Jefferies Group restated a “hold” rating and issued a $40.00 price objective (up from $37.00) on shares of PolyOne Corp. in a report on Monday, June 13th. Finally, TheStreet upgraded PolyOne Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, April 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. PolyOne Corp. currently has a consensus rating of “Buy” and an average price target of $38.00.
The firm’s 50 day moving average price is $35.86 and its 200 day moving average price is $32.91. The firm has a market capitalization of $2.83 billion and a PE ratio of 21.24.
PolyOne Corp. (NYSE:POL) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $861.50 million for the quarter, compared to analysts’ expectations of $879.38 million. During the same quarter in the prior year, the firm posted $0.57 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast that PolyOne Corp. will post $2.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.43%.
Several hedge funds and institutional investors have modified their holdings of the stock. Marshall Wace LLP increased its position in shares of PolyOne Corp. by 102.9% in the fourth quarter. Marshall Wace LLP now owns 308,555 shares of the company’s stock worth $9,800,000 after buying an additional 156,451 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of PolyOne Corp. by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,925,714 shares of the company’s stock worth $61,162,000 after buying an additional 107,475 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of PolyOne Corp. by 2.2% in the fourth quarter. Jennison Associates LLC now owns 1,891,799 shares of the company’s stock worth $60,084,000 after buying an additional 40,337 shares in the last quarter.
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