PolyOne Corporation (POL) Research Coverage Started at Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. assumed coverage on shares of PolyOne Corporation (NYSE:POL) in a report issued on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $43.00 target price on the specialty chemicals company’s stock.

Several other analysts also recently weighed in on POL. TheStreet upgraded PolyOne Corporation from a c+ rating to a b- rating in a research note on Monday, April 24th. Zacks Investment Research upgraded PolyOne Corporation from a hold rating to a buy rating and set a $43.00 price target on the stock in a research note on Wednesday, May 3rd. Finally, BidaskClub downgraded PolyOne Corporation from a hold rating to a sell rating in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. PolyOne Corporation has a consensus rating of Buy and an average target price of $40.80.

PolyOne Corporation (NYSE:POL) opened at 36.43 on Wednesday. The company’s market capitalization is $2.98 billion. PolyOne Corporation has a one year low of $28.77 and a one year high of $40.88. The stock’s 50 day moving average price is $37.27 and its 200-day moving average price is $36.19.

PolyOne Corporation (NYSE:POL) last posted its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. The business had revenue of $814.10 million for the quarter, compared to the consensus estimate of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. Equities analysts forecast that PolyOne Corporation will post $2.21 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.135 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.54 annualized dividend and a yield of 1.48%. PolyOne Corporation’s payout ratio is presently -73.97%.

Several institutional investors have recently modified their holdings of POL. BlackRock Inc. boosted its position in shares of PolyOne Corporation by 13,264.4% in the first quarter. BlackRock Inc. now owns 9,786,179 shares of the specialty chemicals company’s stock valued at $333,610,000 after buying an additional 9,712,953 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of PolyOne Corporation during the second quarter valued at about $51,188,000. Wells Fargo & Company MN boosted its position in shares of PolyOne Corporation by 175.0% in the first quarter. Wells Fargo & Company MN now owns 1,871,208 shares of the specialty chemicals company’s stock valued at $63,789,000 after buying an additional 1,190,756 shares during the period. Victory Capital Management Inc. boosted its position in shares of PolyOne Corporation by 27,668.9% in the second quarter. Victory Capital Management Inc. now owns 1,172,679 shares of the specialty chemicals company’s stock valued at $45,429,000 after buying an additional 1,168,456 shares during the period. Finally, GW&K Investment Management LLC bought a new position in shares of PolyOne Corporation during the second quarter valued at about $36,812,000. 97.03% of the stock is owned by institutional investors and hedge funds.

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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