PolyOne Corporation (POL) Short Interest Down 33.2% in August
PolyOne Corporation (NYSE:POL) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,526,410 shares, a decline of 33.2% from the August 15th total of 2,283,844 shares. Based on an average trading volume of 366,702 shares, the days-to-cover ratio is presently 4.2 days. Approximately 1.9% of the shares of the company are short sold.
Several hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC grew its holdings in shares of PolyOne Corporation by 4.6% during the second quarter. Lord Abbett & CO. LLC now owns 511,940 shares of the specialty chemicals company’s stock worth $19,833,000 after purchasing an additional 22,603 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of PolyOne Corporation during the second quarter worth about $227,000. Nomura Holdings Inc. purchased a new position in shares of PolyOne Corporation during the second quarter worth about $471,000. BlueCrest Capital Management Ltd purchased a new position in shares of PolyOne Corporation during the second quarter worth about $279,000. Finally, State Street Corp grew its holdings in shares of PolyOne Corporation by 3.2% during the second quarter. State Street Corp now owns 2,778,681 shares of the specialty chemicals company’s stock worth $107,643,000 after purchasing an additional 86,473 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.
A number of brokerages have commented on POL. Jefferies Group LLC reaffirmed a “hold” rating and set a $42.00 price target on shares of PolyOne Corporation in a research report on Friday, September 15th. Zacks Investment Research cut PolyOne Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 31st. CIBC began coverage on PolyOne Corporation in a research report on Thursday, August 17th. They set an “outperform” rating and a $43.00 price target for the company. Oppenheimer Holdings, Inc. began coverage on PolyOne Corporation in a research report on Wednesday, August 16th. They set an “outperform” rating and a $43.00 price target for the company. Finally, BidaskClub raised PolyOne Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $41.60.
Shares of PolyOne Corporation (POL) opened at 39.06 on Friday. The firm’s market cap is $3.19 billion. The firm’s 50-day moving average price is $36.43 and its 200-day moving average price is $36.58. 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 quarterly earnings data on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.63. The company had revenue of $814.10 million for the quarter, compared to analyst estimates of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. Analysts expect that PolyOne Corporation will post $2.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, September 14th. PolyOne Corporation’s payout ratio is -73.97%.
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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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