Advisors Asset Management Inc. Boosts Position in PolyOne Corp. (POL)
Advisors Asset Management Inc. boosted its position in shares of PolyOne Corp. (NYSE:POL) by 255.1% during the second quarter, Holdings Channel reports. The firm owned 8,168 shares of the company’s stock after buying an additional 5,868 shares during the period. Advisors Asset Management Inc.’s holdings in PolyOne Corp. were worth $288,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. LS Investment Advisors LLC boosted its stake in PolyOne Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 5,076 shares of the company’s stock worth $179,000 after buying an additional 2,119 shares during the period. Capstone Asset Management Co. purchased a new stake in PolyOne Corp. during the second quarter worth approximately $202,000. Neuberger Berman Group LLC purchased a new stake in PolyOne Corp. during the second quarter worth approximately $219,000. Oakbrook Investments LLC purchased a new stake in PolyOne Corp. during the second quarter worth approximately $222,000. Finally, Alambic Investment Management L.P. purchased a new stake in PolyOne Corp. during the second quarter worth approximately $257,000. Institutional investors own 92.51% of the company’s stock.
PolyOne Corp. (NYSE:POL) traded up 0.90% during trading on Friday, hitting $33.81. The stock had a trading volume of 1,476,035 shares. PolyOne Corp. has a 52-week low of $22.35 and a 52-week high of $38.41. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 21.33 and a beta of 1.48. The firm’s 50-day moving average price is $33.30 and its 200-day moving average price is $34.50.
PolyOne Corp. (NYSE:POL) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. PolyOne Corp. had a return on equity of 25.34% and a net margin of 4.11%. The company earned $861.50 million during the quarter, compared to analysts’ expectations of $879.38 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Analysts predict that PolyOne Corp. will post $2.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 16th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. PolyOne Corp.’s dividend payout ratio is currently 30.19%.
Several analysts have issued reports on the company. Jefferies Group reissued a “hold” rating on shares of PolyOne Corp. in a report on Wednesday, July 6th. Zacks Investment Research lowered PolyOne Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. Goldman Sachs Group Inc. lowered PolyOne Corp. from a “buy” rating to a “neutral” rating and cut their price target for the company from $42.00 to $38.00 in a report on Wednesday, July 27th. Finally, Wellington Shields raised PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, June 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. PolyOne Corp. has a consensus rating of “Hold” and a consensus price target of $38.00.
PolyOne Corp. Company Profile
Want to see what other hedge funds are holding POL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PolyOne Corp. (NYSE:POL).
Receive News & Ratings for PolyOne Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PolyOne Corp. and related companies with MarketBeat.com's FREE daily email newsletter.