PolyOne Co. (POL) to Issue Quarterly Dividend of $0.20 on January 9th
PolyOne Co. (NYSE:POL) declared a quarterly dividend on Thursday, October 11th, RTT News reports. Investors of record on Friday, December 14th will be paid a dividend of 0.195 per share by the specialty chemicals company on Wednesday, January 9th. This represents a $0.78 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, December 13th. This is a positive change from PolyOne’s previous quarterly dividend of $0.18.
PolyOne has raised its dividend by an average of 19.1% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. PolyOne has a payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PolyOne to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 29.3%.
Shares of NYSE POL opened at $30.89 on Friday. PolyOne has a 52 week low of $30.03 and a 52 week high of $47.48. The company has a quick ratio of 1.27, a current ratio of 1.86 and a debt-to-equity ratio of 2.14. The company has a market cap of $2.53 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.31 and a beta of 1.73.
In other news, Director Robert E. Abernathy bought 10,000 shares of the stock in a transaction dated Thursday, October 25th. The shares were bought at an average price of $30.64 per share, for a total transaction of $306,400.00. Following the completion of the purchase, the director now owns 11,593 shares in the company, valued at $355,209.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP M. John Jr. Midea bought 1,050 shares of the stock in a transaction dated Friday, October 26th. The shares were purchased at an average price of $31.08 per share, for a total transaction of $32,634.00. Following the purchase, the senior vice president now owns 3,836 shares of the company’s stock, valued at approximately $119,222.88. The disclosure for this purchase can be found here. Insiders acquired 17,050 shares of company stock worth $529,174 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research upgraded PolyOne from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. ValuEngine lowered PolyOne from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Oppenheimer dropped their price objective on PolyOne from $50.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Robert W. Baird dropped their price objective on PolyOne from $46.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. Finally, Wellington Shields lowered PolyOne from a “gradually accumulate” rating to a “hold” rating in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. PolyOne currently has a consensus rating of “Hold” and a consensus price target of $43.00.
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PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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