PolyOne Corp. (POL) Raises Dividend to $0.13 Per Share
PolyOne Corp. (NYSE:POL) declared a quarterly dividend on Thursday, October 13th. Stockholders of record on Friday, December 16th will be given a dividend of 0.1325 per share on Friday, January 6th. This represents a $0.53 annualized dividend and a dividend yield of 1.72%. This is a positive change from PolyOne Corp.’s previous quarterly dividend of $0.12.
PolyOne Corp. (NYSE:POL) opened at 30.84 on Friday. The stock has a market capitalization of $2.59 billion, a PE ratio of 19.46 and a beta of 1.41. PolyOne Corp. has a 1-year low of $22.35 and a 1-year high of $38.41. The stock’s 50 day moving average price is $33.06 and its 200 day moving average price is $34.65.
PolyOne Corp. (NYSE:POL) last released its earnings results on Wednesday, July 27th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the 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 firm earned $861.50 million during the quarter, compared to analysts’ expectations of $879.38 million. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. On average, equities research analysts predict that PolyOne Corp. will post $2.17 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Azimuth Capital Management LLC raised its stake in shares of PolyOne Corp. by 1.5% in the second quarter. Azimuth Capital Management LLC now owns 6,800 shares of the company’s stock worth $240,000 after buying an additional 100 shares in the last quarter. BlackRock Group LTD raised its stake in shares of PolyOne Corp. by 1.3% in the second quarter. BlackRock Group LTD now owns 64,289 shares of the company’s stock worth $2,265,000 after buying an additional 834 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of PolyOne Corp. by 4.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 57,666 shares of the company’s stock worth $2,032,000 after buying an additional 2,551 shares in the last quarter. Pacad Investment Ltd. raised its stake in shares of PolyOne Corp. by 23.8% in the second quarter. Pacad Investment Ltd. now owns 15,090 shares of the company’s stock worth $532,000 after buying an additional 2,900 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of PolyOne Corp. by 76.3% in the second quarter. US Bancorp DE now owns 6,880 shares of the company’s stock worth $242,000 after buying an additional 2,978 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.
POL has been the subject of several research analyst reports. Wellington Shields upgraded PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, June 30th. Zacks Investment Research cut PolyOne Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Jefferies Group cut their price target on PolyOne Corp. from $40.00 to $36.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Goldman Sachs Group Inc. cut 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. PolyOne Corp. currently has an average rating of “Hold” and an average target price of $37.33.
About PolyOne Corp.
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