GW&K Investment Management LLC Buys 177,202 Shares of PolyOne Co. (NYSE:POL)
GW&K Investment Management LLC boosted its stake in shares of PolyOne Co. (NYSE:POL) by 14.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,370,594 shares of the specialty chemicals company’s stock after purchasing an additional 177,202 shares during the period. GW&K Investment Management LLC’s holdings in PolyOne were worth $44,749,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of POL. Investors Research Corp bought a new position in PolyOne during the second quarter valued at about $25,000. Parallel Advisors LLC grew its position in PolyOne by 220.7% during the second quarter. Parallel Advisors LLC now owns 789 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 543 shares during the period. Doyle Wealth Management bought a new position in PolyOne during the second quarter valued at about $68,000. Strs Ohio grew its position in PolyOne by 30.0% during the third quarter. Strs Ohio now owns 3,900 shares of the specialty chemicals company’s stock valued at $127,000 after buying an additional 900 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in PolyOne during the second quarter valued at about $203,000. Institutional investors own 92.33% of the company’s stock.
Several equities research analysts have commented on POL shares. TheStreet raised shares of PolyOne from a “c+” rating to a “b-” rating in a report on Thursday, July 25th. Robert W. Baird raised shares of PolyOne from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $36.00 in a report on Monday, July 22nd. Zacks Investment Research downgraded shares of PolyOne from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. ValuEngine raised shares of PolyOne from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Co started coverage on shares of PolyOne in a report on Tuesday, October 15th. They set a “market perform” rating and a $35.00 price objective on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $34.71.
PolyOne (NYSE:POL) last released its quarterly earnings data on Tuesday, October 22nd. The specialty chemicals company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $705.00 million for the quarter, compared to the consensus estimate of $721.91 million. PolyOne had a net margin of 4.03% and a return on equity of 30.57%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. On average, research analysts expect that PolyOne Co. will post 1.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, December 13th will be issued a $0.203 dividend. This represents a $0.81 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from PolyOne’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 12th. PolyOne’s dividend payout ratio is presently 32.10%.
PolyOne Company Profile
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols, and vinyl slush molding solutions.
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