PolyOne Corp. (POL) Position Raised by Nationwide Fund Advisors
Nationwide Fund Advisors raised its position in shares of PolyOne Corp. (NYSE:POL) by 17.1% during the second quarter, Holdings Channel reports. The institutional investor owned 256,584 shares of the company’s stock after buying an additional 37,453 shares during the period. Nationwide Fund Advisors owned about 0.31% of PolyOne Corp. worth $9,042,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Virginia Retirement System purchased a new position in PolyOne Corp. during the first quarter worth approximately $1,425,000. Pacad Investment Ltd. purchased a new position in PolyOne Corp. during the first quarter worth approximately $369,000. Prudential Financial Inc. boosted its position in PolyOne Corp. by 310.7% in the first quarter. Prudential Financial Inc. now owns 432,119 shares of the company’s stock worth $13,072,000 after buying an additional 326,916 shares during the period. BlackRock Inc. boosted its position in PolyOne Corp. by 8.8% in the first quarter. BlackRock Inc. now owns 34,874 shares of the company’s stock worth $1,055,000 after buying an additional 2,815 shares during the period. Finally, BlackRock Group LTD boosted its position in PolyOne Corp. by 20.8% in the first quarter. BlackRock Group LTD now owns 63,455 shares of the company’s stock worth $1,918,000 after buying an additional 10,927 shares during the period. Hedge funds and other institutional investors own 92.76% of the company’s stock.
Shares of PolyOne Corp. (NYSE:POL) traded up 0.22% during midday trading on Tuesday, reaching $31.55. 174,320 shares of the company were exchanged. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 19.91 and a beta of 1.48. The company’s 50-day moving average price is $33.90 and its 200 day moving average price is $34.33. PolyOne Corp. has a 52-week low of $22.35 and a 52-week high of $38.41.
PolyOne Corp. (NYSE:POL) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. PolyOne Corp. had a net margin of 4.11% and a return on equity of 25.34%. The firm had revenue of $861.50 million for the quarter, compared to analyst estimates of $879.38 million. During the same quarter in the previous year, the business posted $0.57 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. On average, equities analysts predict that PolyOne Corp. will post $2.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, September 16th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Wednesday, September 14th. PolyOne Corp.’s payout ratio is currently 30.19%.
A number of research analysts have commented on the company. Goldman Sachs Group Inc. cut PolyOne Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $38.00 in a research note on Wednesday, July 27th. Zacks Investment Research upgraded PolyOne Corp. from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Saturday, July 30th. Jefferies Group restated a “hold” rating on shares of PolyOne Corp. in a research note on Wednesday, July 6th. Finally, Wellington Shields raised PolyOne Corp. from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, June 30th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $38.00.
PolyOne Corp. Company Profile
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