Riverhead Capital Management LLC raised its holdings in shares of PolyOne Corporation (NYSE:POL) by 56.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,260 shares of the specialty chemicals company’s stock after acquiring an additional 2,260 shares during the quarter. Riverhead Capital Management LLC’s holdings in PolyOne Corporation were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Alliancebernstein L.P. grew its stake in shares of PolyOne Corporation by 3.1% during the 2nd quarter. Alliancebernstein L.P. now owns 3,090,961 shares of the specialty chemicals company’s stock worth $119,744,000 after acquiring an additional 92,253 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of PolyOne Corporation by 12.0% during the 2nd quarter. Wells Fargo & Company MN now owns 2,096,520 shares of the specialty chemicals company’s stock worth $81,220,000 after acquiring an additional 225,312 shares in the last quarter. Kennedy Capital Management Inc. bought a new position in shares of PolyOne Corporation during the 2nd quarter worth approximately $3,930,000. Northwestern Mutual Investment Management Company LLC grew its stake in shares of PolyOne Corporation by 2.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 14,510 shares of the specialty chemicals company’s stock worth $511,000 after acquiring an additional 350 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of PolyOne Corporation by 15.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 411,248 shares of the specialty chemicals company’s stock worth $15,932,000 after acquiring an additional 56,309 shares in the last quarter. 93.99% of the stock is owned by institutional investors.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of PolyOne Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. BidaskClub raised shares of PolyOne Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $42.00 price target on shares of PolyOne Corporation in a research note on Friday, September 15th. CIBC assumed coverage on shares of PolyOne Corporation in a research note on Thursday, August 17th. They set an “outperform” rating and a $43.00 price target for the company. Finally, Oppenheimer Holdings, Inc. assumed coverage on shares of PolyOne Corporation in a research note on Wednesday, August 16th. They set an “outperform” rating and a $43.00 price target for the company. One investment 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. The stock has a consensus rating of “Hold” and a consensus price target of $41.60.

PolyOne Corporation (NYSE POL) opened at 40.21 on Thursday. The stock’s 50 day moving average is $36.43 and its 200 day moving average is $36.58. PolyOne Corporation has a 52 week low of $28.77 and a 52 week high of $40.88. The company’s market capitalization is $3.29 billion.

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 analysts’ consensus estimates of $0.63. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The company had revenue of $814.10 million for the quarter, compared to analyst estimates of $812.52 million. During the same period in the prior year, the firm earned $0.59 earnings per share. PolyOne Corporation’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts predict that PolyOne Corporation will post $2.21 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date 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.

Institutional Ownership by Quarter for PolyOne Corporation (NYSE:POL)

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