Commerce Bank Purchases 2,790 Shares of PolyOne Corporation (POL)
Commerce Bank lifted its position in shares of PolyOne Corporation (NYSE:POL) by 23.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,761 shares of the specialty chemicals company’s stock after acquiring an additional 2,790 shares during the quarter. Commerce Bank’s holdings in PolyOne Corporation were worth $591,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in POL. Victory Capital Management Inc. boosted its holdings in shares of PolyOne Corporation by 27,668.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,172,679 shares of the specialty chemicals company’s stock valued at $45,429,000 after acquiring an additional 1,168,456 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of PolyOne Corporation during the 2nd quarter valued at $23,982,000. Prudential Financial Inc. boosted its holdings in shares of PolyOne Corporation by 46.9% during the 3rd quarter. Prudential Financial Inc. now owns 751,003 shares of the specialty chemicals company’s stock valued at $30,062,000 after acquiring an additional 239,700 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of PolyOne Corporation during the 2nd quarter valued at $227,000. Finally, Wells Fargo & Company MN boosted its holdings 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 valued at $81,220,000 after acquiring an additional 225,312 shares in the last quarter. 96.39% of the stock is currently owned by institutional investors.
Shares of PolyOne Corporation (POL) traded up $0.19 on Tuesday, reaching $45.00. The company’s stock had a trading volume of 543,400 shares, compared to its average volume of 490,800. The firm has a market cap of $3,620.84, a P/E ratio of 20.56, a PEG ratio of 2.06 and a beta of 1.85. PolyOne Corporation has a 52-week low of $31.68 and a 52-week high of $46.59. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.96 and a quick ratio of 1.38.
PolyOne Corporation (NYSE:POL) last announced its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The firm had revenue of $818.50 million for the quarter, compared to the consensus estimate of $789.32 million. PolyOne Corporation had a positive return on equity of 27.77% and a negative net margin of 1.87%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. equities research analysts forecast that PolyOne Corporation will post 2.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.175 per share. The ex-dividend date is Thursday, December 14th. This is an increase from PolyOne Corporation’s previous quarterly dividend of $0.14. This represents a $0.70 annualized dividend and a yield of 1.56%. PolyOne Corporation’s payout ratio is presently -71.05%.
Several equities research analysts recently weighed in on the company. SunTrust Banks, Inc. reissued a “buy” rating and set a $42.00 price objective on shares of PolyOne Corporation in a report on Friday, October 27th. Zacks Investment Research raised PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Friday, October 27th. KeyCorp set a $47.00 target price on PolyOne Corporation and gave the stock a “buy” rating in a report on Thursday, October 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $42.00 target price on shares of PolyOne Corporation in a report on Thursday, October 19th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $42.00 target price on shares of PolyOne Corporation in a report on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $43.17.
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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