PolyOne Corp. (POL) Sees Strong Trading Volume
PolyOne Corp. (NYSE:POL) shares saw unusually-high trading volume on Friday . Approximately 553,541 shares were traded during 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 several analyst reports. Seaport Global Securities raised PolyOne Corp. from a “neutral” rating to an “accumulate” rating and increased their target price for the stock from $29.00 to $37.00 in a report on Monday, April 18th. Zacks Investment Research raised PolyOne Corp. from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Saturday, July 30th. TheStreet raised PolyOne Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, April 26th. Wellington Shields raised PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research note on Thursday, June 30th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $40.00 price objective (up from $37.00) on shares of PolyOne Corp. in a research note on Monday, June 13th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $38.00.
The company’s 50-day moving average is $35.86 and its 200-day moving average is $32.91. The stock has a market capitalization of $2.83 billion and a PE ratio of 21.24.
PolyOne Corp. (NYSE:POL) last issued its earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The firm earned $861.50 million during the quarter, compared to the consensus estimate of $879.38 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts anticipate that PolyOne Corp. will post $2.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, September 16th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, September 14th.
Several institutional investors recently made changes to their positions in POL. Jennison Associates LLC boosted 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 valued at $60,084,000 after buying an additional 40,337 shares during the period. Dimensional Fund Advisors LP boosted 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 valued at $61,162,000 after buying an additional 107,475 shares during the period. Finally, Marshall Wace LLP boosted 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 valued at $9,800,000 after buying an additional 156,451 shares during the period.
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