WBI Investments Inc. Boosts Position in PolyOne Corporation (POL)
WBI Investments Inc. boosted its holdings in PolyOne Corporation (NYSE:POL) by 13.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 23,084 shares of the specialty chemicals company’s stock after buying an additional 2,783 shares during the period. WBI Investments Inc.’s holdings in PolyOne Corporation were worth $894,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of POL. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 valued at $128,000 after buying an additional 1,370 shares during the period. Victory Capital Management Inc. raised its holdings 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. Bronfman E.L. Rothschild L.P. raised its holdings in PolyOne Corporation by 215.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,249 shares of the specialty chemicals company’s stock valued at $165,000 after buying an additional 2,900 shares during the period. Envestnet Asset Management Inc. raised its holdings 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. purchased a new position in PolyOne Corporation in the first quarter valued at approximately $190,000. Hedge funds and other institutional investors own 94.37% of the company’s stock.
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PolyOne Corporation (NYSE:POL) opened at 37.14 on Friday. The company has a 50-day moving average of $36.35 and a 200 day moving average of $36.46. PolyOne Corporation has a 12-month low of $28.77 and a 12-month high of $40.88. The stock’s market cap is $3.04 billion.
PolyOne Corporation (NYSE:POL) last announced its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. The business had revenue of $814.10 million during the quarter, compared to analysts’ expectations of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. Equities analysts anticipate that PolyOne Corporation will post $2.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be paid a $0.135 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.54 annualized dividend and a dividend yield of 1.45%. PolyOne Corporation’s payout ratio is -73.97%.
Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of PolyOne Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. BidaskClub upgraded shares of PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. CIBC assumed coverage on shares of PolyOne Corporation in a report on Thursday, August 17th. They issued an “outperform” rating and a $43.00 price target on the stock. Finally, Oppenheimer Holdings, Inc. assumed coverage on shares of PolyOne Corporation in a report on Wednesday, August 16th. They issued an “outperform” rating and a $43.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.80.
PolyOne Corporation Company Profile
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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