PolyOne Corporation (POL) Stake Maintained by South Dakota Investment Council
South Dakota Investment Council held its stake in shares of PolyOne Corporation (NYSE:POL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,700 shares of the specialty chemicals company’s stock at the close of the 2nd quarter. South Dakota Investment Council’s holdings in PolyOne Corporation were worth $647,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of POL. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PolyOne Corporation by 57.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock worth $128,000 after purchasing an additional 1,370 shares in the last quarter. 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 acquiring an additional 1,336 shares in the last quarter. 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 acquiring an additional 2,900 shares in the last quarter. 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 acquiring an additional 2,126 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in PolyOne Corporation in the first quarter valued at approximately $190,000. 94.37% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of PolyOne Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. BidaskClub raised 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 target price 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 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. PolyOne Corporation presently has an average rating of “Hold” and an average target price of $40.80.
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PolyOne Corporation (NYSE POL) opened at 37.29 on Friday. The stock’s market capitalization is $3.05 billion. The stock’s 50 day moving average is $36.37 and its 200-day moving average is $36.49. PolyOne Corporation has a 12 month low of $28.77 and a 12 month high of $40.88.
PolyOne Corporation (NYSE:POL) last issued its earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The firm had revenue of $814.10 million for the quarter, compared to analyst estimates of $812.52 million. During the same period last year, the company earned $0.59 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts expect that PolyOne Corporation will post $2.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be paid a $0.135 dividend. The ex-dividend date of this dividend 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%.
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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