PolyOne (NYSE:POL) Trading Up 9.3%

PolyOne Co. (NYSE:POL) shares were up 9.3% during mid-day trading on Wednesday . The company traded as high as $17.24 and last traded at $18.44, approximately 89,386 shares traded hands during trading. A decline of 94% from the average daily volume of 1,599,894 shares. The stock had previously closed at $16.87.

A number of equities analysts have issued reports on POL shares. Zacks Investment Research upgraded PolyOne from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday, March 18th. ValuEngine raised PolyOne from a “sell” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus raised PolyOne from a “hold” rating to a “buy” rating in a research report on Monday. TheStreet lowered PolyOne from a “b-” rating to a “c+” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Co dropped their price target on PolyOne from $42.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $30.43.

The company has a market cap of $1.56 billion, a price-to-earnings ratio of 2.49, a price-to-earnings-growth ratio of 1.04 and a beta of 1.84. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.15 and a quick ratio of 1.78. The stock has a 50-day moving average price of $24.62 and a 200 day moving average price of $31.20.

PolyOne (NYSE:POL) last released its quarterly earnings results on Tuesday, January 28th. The specialty chemicals company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. The company had revenue of $658.60 million for the quarter, compared to analyst estimates of $687.36 million. PolyOne had a return on equity of 24.03% and a net margin of 18.58%. PolyOne’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. Sell-side analysts expect that PolyOne Co. will post 1.8 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Tuesday, March 17th will be given a $0.203 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Monday, March 16th. PolyOne’s dividend payout ratio is presently 47.93%.

In other news, SVP J Scott Horn bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average price of $14.81 per share, with a total value of $74,050.00. Also, Director Richard H. Fearon bought 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average cost of $28.49 per share, for a total transaction of $99,715.00. Following the transaction, the director now owns 103,980 shares in the company, valued at approximately $2,962,390.20. The disclosure for this purchase can be found here. In the last three months, insiders purchased 18,500 shares of company stock worth $313,205. 1.10% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in POL. Franklin Resources Inc. increased its position in shares of PolyOne by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 1,440,176 shares of the specialty chemicals company’s stock worth $52,984,000 after purchasing an additional 15,576 shares during the last quarter. Credit Suisse AG increased its position in shares of PolyOne by 9.8% during the 4th quarter. Credit Suisse AG now owns 108,621 shares of the specialty chemicals company’s stock worth $3,996,000 after purchasing an additional 9,656 shares during the last quarter. Millennium Management LLC increased its position in shares of PolyOne by 3,010.1% during the 3rd quarter. Millennium Management LLC now owns 651,944 shares of the specialty chemicals company’s stock worth $21,285,000 after purchasing an additional 630,982 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of PolyOne by 55.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 67,934 shares of the specialty chemicals company’s stock worth $2,218,000 after purchasing an additional 24,266 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of PolyOne by 204.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 6,400 shares of the specialty chemicals company’s stock worth $209,000 after purchasing an additional 4,300 shares during the last quarter. 77.86% of the stock is currently owned by institutional investors and hedge funds.

PolyOne Company Profile (NYSE:POL)

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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