PolyOne Co. (POL) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of PolyOne Co. (NYSE:POL) from a hold rating to a buy rating in a research report released on Wednesday, May 3rd. The brokerage currently has $43.00 target price on the specialty chemicals company’s stock.
According to Zacks, “PolyOne Corporation is an international polymer services company with operations in thermoplastic compounds, specialty resins, specialty polymer formulations, engineered films, color and additive systems, elastomer compounding and thermoplastic resin distribution. PolyOne was formed from the consolidation of the former M.A. Hanna Company and The Geon Company. Information on the Company’s products and services can be found at www.polyone.com. “
POL has been the topic of a number of other reports. Jefferies Group LLC raised shares of PolyOne to a hold rating and set a $38.00 target price on the stock in a research note on Thursday, March 2nd. Robert W. Baird raised their target price on shares of PolyOne from $34.00 to $37.00 and gave the company an outperform rating in a research note on Monday, January 30th. Finally, TheStreet raised shares of PolyOne from a c+ rating to a b- rating in a research note on Monday, April 24th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $39.00.
PolyOne (NYSE:POL) traded up 1.32% during mid-day trading on Wednesday, hitting $37.60. 57,300 shares of the stock traded hands. The company has a 50 day moving average price of $36.48 and a 200-day moving average price of $33.92. PolyOne has a one year low of $28.77 and a one year high of $40.88. The stock has a market capitalization of $3.07 billion, a PE ratio of 18.26 and a beta of 1.60.
PolyOne (NYSE:POL) last announced its earnings results on Thursday, April 27th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $899 million for the quarter, compared to the consensus estimate of $860.52 million. PolyOne had a net margin of 4.95% and a return on equity of 24.77%. PolyOne’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. Equities analysts anticipate that PolyOne will post $2.31 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 16th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, June 14th. PolyOne’s dividend payout ratio is 27.69%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its position in shares of PolyOne by 22.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,339,076 shares of the specialty chemicals company’s stock valued at $112,894,000 after buying an additional 612,686 shares in the last quarter. Channing Capital Management LLC boosted its position in shares of PolyOne by 12.0% in the third quarter. Channing Capital Management LLC now owns 1,682,481 shares of the specialty chemicals company’s stock valued at $56,885,000 after buying an additional 180,109 shares in the last quarter. Century Capital Management LLC boosted its stake in PolyOne by 34.4% in the fourth quarter. Century Capital Management LLC now owns 124,611 shares of the specialty chemicals company’s stock valued at $3,993,000 after buying an additional 31,900 shares during the period. Citadel Advisors LLC boosted its stake in PolyOne by 173.8% in the third quarter. Citadel Advisors LLC now owns 349,889 shares of the specialty chemicals company’s stock valued at $11,830,000 after buying an additional 222,096 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in PolyOne by 2.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 50,730 shares of the specialty chemicals company’s stock valued at $1,625,000 after buying an additional 1,210 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. Its segments include Color, Additives and Inks; Specialty Engineered Materials; Designed Structures and Solutions; 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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