Aperio Group LLC Boosts Position in PolyOne Corporation (NYSE:POL)
Aperio Group LLC increased its position in shares of PolyOne Corporation (NYSE:POL) by 133.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,889 shares of the specialty chemicals company’s stock after buying an additional 25,699 shares during the period. Aperio Group LLC’s holdings in PolyOne Corporation were worth $1,739,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in POL. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PolyOne Corporation by 57.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock worth $128,000 after buying an additional 1,370 shares in the last quarter. Victory Capital Management Inc. increased its position in PolyOne Corporation by 46.3% in the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock valued at $144,000 after buying an additional 1,336 shares during the period. Creative Planning increased its position in PolyOne Corporation by 22.7% in the first quarter. Creative Planning now owns 4,520 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 836 shares during the period. Envestnet Asset Management Inc. increased its position in PolyOne Corporation by 76.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,895 shares of the specialty chemicals company’s stock valued at $167,000 after buying an additional 2,126 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in PolyOne Corporation during the first quarter valued at approximately $190,000. 95.72% of the stock is owned by hedge funds and other institutional investors.
PolyOne Corporation (POL) traded down 0.11% on Thursday, reaching $35.49. 170,867 shares of the company traded hands. The stock’s 50-day moving average is $37.58 and its 200-day moving average is $36.06. PolyOne Corporation has a 1-year low of $28.77 and a 1-year high of $40.88. The stock’s market capitalization is $2.90 billion.
PolyOne Corporation (NYSE:POL) last announced its earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $814.10 million during the quarter, compared to analyst estimates of $812.52 million. PolyOne Corporation had a negative net margin of 1.75% and a positive return on equity of 25.84%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 earnings per share. Equities research analysts expect that PolyOne Corporation will post $2.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be given a dividend of $0.135 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.54 annualized dividend and a yield of 1.52%. PolyOne Corporation’s dividend payout ratio (DPR) is -73.97%.
Several research analysts recently commented on POL shares. Zacks Investment Research raised shares of PolyOne Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, May 3rd. BidaskClub downgraded shares of PolyOne Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, TheStreet raised shares of PolyOne Corporation from a “c+” rating to a “b-” rating in a report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $39.33.
About PolyOne Corporation
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.
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