Dana Investment Advisors Inc. reduced its stake in shares of PolyOne Co. (NYSE:POL) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,004 shares of the specialty chemicals company’s stock after selling 2,409 shares during the quarter. Dana Investment Advisors Inc.’s holdings in PolyOne were worth $1,459,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in PolyOne by 2,760.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 902,816 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 871,249 shares during the period. Private Capital Group LLC increased its stake in PolyOne by 52.3% in the fourth quarter. Private Capital Group LLC now owns 1,298 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 446 shares during the period. Kings Point Capital Management acquired a new position in PolyOne in the fourth quarter valued at $43,000. Meeder Asset Management Inc. increased its stake in PolyOne by 328.3% in the fourth quarter. Meeder Asset Management Inc. now owns 1,996 shares of the specialty chemicals company’s stock valued at $57,000 after purchasing an additional 1,530 shares during the period. Finally, Bessemer Group Inc. acquired a new position in PolyOne in the fourth quarter valued at $80,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.
POL has been the topic of a number of recent research reports. Buckingham Research initiated coverage on shares of PolyOne in a research note on Tuesday, February 5th. They issued a “buy” rating and a $32.40 price objective on the stock. Zacks Investment Research lowered shares of PolyOne from a “hold” rating to a “sell” rating in a research note on Saturday, February 9th. TheStreet lowered shares of PolyOne from a “b-” rating to a “c+” rating in a research note on Wednesday, December 12th. Finally, Stifel Nicolaus initiated coverage on shares of PolyOne in a research note on Monday, December 10th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.08.
PolyOne (NYSE:POL) last issued its earnings results on Tuesday, January 29th. The specialty chemicals company reported $0.41 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $834.00 million for the quarter, compared to the consensus estimate of $821.90 million. PolyOne had a net margin of 4.52% and a return on equity of 33.46%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, equities analysts predict that PolyOne Co. will post 2.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, March 14th. PolyOne’s payout ratio is 32.10%.
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PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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