Norges Bank Buys New Stake in PolyOne Co. (POL)

Norges Bank bought a new stake in shares of PolyOne Co. (NYSE:POL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,001,306 shares of the specialty chemicals company’s stock, valued at approximately $28,638,000. Norges Bank owned 1.29% of PolyOne as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Squarepoint Ops LLC lifted its position in shares of PolyOne by 75.7% during the 4th quarter. Squarepoint Ops LLC now owns 52,344 shares of the specialty chemicals company’s stock valued at $1,497,000 after acquiring an additional 22,546 shares during the period. Two Sigma Securities LLC bought a new stake in shares of PolyOne during the 4th quarter worth $225,000. Macquarie Group Ltd. lifted its position in shares of PolyOne by 25.3% during the 4th quarter. Macquarie Group Ltd. now owns 110,514 shares of the specialty chemicals company’s stock worth $3,161,000 after buying an additional 22,300 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of PolyOne by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 956,936 shares of the specialty chemicals company’s stock worth $27,367,000 after buying an additional 55,827 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of PolyOne during the 4th quarter worth $549,000. Hedge funds and other institutional investors own 93.53% of the company’s stock.

PolyOne stock opened at $28.56 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.20 and a beta of 1.71. PolyOne Co. has a 12 month low of $26.16 and a 12 month high of $45.70.

PolyOne (NYSE:POL) last posted its earnings results on Wednesday, April 17th. The specialty chemicals company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). The firm had revenue of $899.90 million during the quarter, compared to the consensus estimate of $922.33 million. PolyOne had a net margin of 4.52% and a return on equity of 33.46%. PolyOne’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 earnings per share. On average, research analysts anticipate that PolyOne Co. will post 2.56 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.195 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.78 annualized dividend and a yield of 2.73%. PolyOne’s dividend payout ratio is presently 32.10%.

POL has been the subject of several recent analyst reports. Zacks Investment Research upgraded PolyOne from a “sell” rating to a “hold” rating in a research report on Wednesday, December 26th. Buckingham Research initiated coverage on PolyOne in a research report on Tuesday, February 5th. They set a “buy” rating and a $32.40 price objective for the company. ValuEngine downgraded PolyOne from a “sell” rating to a “strong sell” rating in a research report on Thursday. Northcoast Research upgraded PolyOne from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Thursday. Finally, KeyCorp dropped their price objective on PolyOne from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $36.83.

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PolyOne Company Profile

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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Institutional Ownership by Quarter for PolyOne (NYSE:POL)

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