PolyOne Co. (NYSE:POL) Short Interest Update

PolyOne Co. (NYSE:POL) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 1,260,000 shares, a decline of 8.0% from the August 30th total of 1,370,000 shares. Based on an average daily trading volume, of 505,900 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.7% of the shares of the stock are short sold.

Institutional investors and hedge funds have recently made changes to their positions in the company. Investors Research Corp acquired a new position in shares of PolyOne in the 2nd quarter worth approximately $25,000. Parallel Advisors LLC increased its position in shares of PolyOne by 220.7% in the second quarter. Parallel Advisors LLC now owns 789 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 543 shares in the last quarter. Doyle Wealth Management purchased a new position in shares of PolyOne in the second quarter worth approximately $68,000. Crossmark Global Holdings Inc. purchased a new position in shares of PolyOne in the second quarter worth approximately $203,000. Finally, HM Capital Management LLC purchased a new position in shares of PolyOne in the second quarter worth approximately $210,000. 92.19% of the stock is currently owned by institutional investors.

Shares of POL opened at $32.37 on Tuesday. The firm’s 50 day moving average is $32.30 and its 200-day moving average is $29.96. The stock has a market capitalization of $2.38 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.52 and a beta of 1.71. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.68 and a quick ratio of 1.10. PolyOne has a 12-month low of $24.47 and a 12-month high of $38.18.

PolyOne (NYSE:POL) last announced its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $903.80 million for the quarter, compared to analysts’ expectations of $933.34 million. PolyOne had a net margin of 4.03% and a return on equity of 33.07%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities research analysts forecast that PolyOne will post 2.11 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, December 13th will be paid a $0.203 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.81 annualized dividend and a dividend yield of 2.51%. This is a boost from PolyOne’s previous quarterly dividend of $0.20. PolyOne’s payout ratio is currently 32.10%.

A number of research firms have commented on POL. Zacks Investment Research downgraded shares of PolyOne from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. ValuEngine upgraded shares of PolyOne from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Robert W. Baird upgraded shares of PolyOne from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $30.00 to $36.00 in a research report on Monday, July 22nd. Finally, TheStreet upgraded shares of PolyOne from a “c+” rating to a “b-” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $35.86.

About PolyOne

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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