Alliancebernstein L.P. boosted its holdings in shares of PolyOne Corporation (NYSE:POL) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,090,961 shares of the specialty chemicals company’s stock after acquiring an additional 92,253 shares during the period. Alliancebernstein L.P. owned about 3.78% of PolyOne Corporation worth $119,744,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PolyOne Corporation by 57.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock worth $128,000 after acquiring an additional 1,370 shares during the last quarter. Victory Capital Management Inc. raised its position in PolyOne Corporation by 46.3% during the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock worth $144,000 after acquiring an additional 1,336 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in PolyOne Corporation by 215.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,249 shares of the specialty chemicals company’s stock worth $165,000 after acquiring an additional 2,900 shares during the last quarter. Envestnet Asset Management Inc. raised its position in PolyOne Corporation by 76.8% during the first quarter. Envestnet Asset Management Inc. now owns 4,895 shares of the specialty chemicals company’s stock worth $167,000 after acquiring an additional 2,126 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in PolyOne Corporation during the first quarter worth about $190,000. Institutional investors own 94.37% of the company’s stock.
PolyOne Corporation (NYSE:POL) opened at 36.55 on Monday. PolyOne Corporation has a 52-week low of $28.77 and a 52-week high of $40.88. The stock has a 50 day moving average of $36.44 and a 200-day moving average of $36.39. The firm’s market cap is $2.99 billion.
PolyOne Corporation (NYSE:POL) last posted its quarterly earnings data on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, meeting analysts’ consensus estimates of $0.63. PolyOne Corporation had a negative net margin of 1.75% and a positive return on equity of 25.84%. The company had revenue of $814.10 million during the quarter, compared to analyst estimates of $812.52 million. During the same period in the prior year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts expect that PolyOne Corporation will post $2.21 EPS for the current year.
The company also recently disclosed 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. This represents a $0.54 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Thursday, September 14th. PolyOne Corporation’s dividend payout ratio is presently -73.97%.
POL has been the subject of a number of research reports. Zacks Investment Research cut shares of PolyOne Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 31st. BidaskClub cut shares of PolyOne Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of PolyOne Corporation in a research report on Wednesday, August 16th. They set an “outperform” rating and a $43.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. PolyOne Corporation presently has an average rating of “Hold” and an average price target of $40.80.
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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