BNP Paribas Arbitrage SA Sells 6,049 Shares of PolyOne Corporation (POL)
BNP Paribas Arbitrage SA cut its position in PolyOne Corporation (NYSE:POL) by 13.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,406 shares of the specialty chemicals company’s stock after selling 6,049 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in PolyOne were worth $1,497,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in PolyOne by 27,668.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,172,679 shares of the specialty chemicals company’s stock valued at $45,429,000 after purchasing an additional 1,168,456 shares during the last quarter. Keybank National Association OH bought a new stake in shares of PolyOne during the 2nd quarter worth about $1,240,000. Prudential Financial Inc. raised its position in shares of PolyOne by 46.9% during the 3rd quarter. Prudential Financial Inc. now owns 751,003 shares of the specialty chemicals company’s stock worth $30,062,000 after buying an additional 239,700 shares in the last quarter. Strs Ohio raised its position in shares of PolyOne by 6.0% during the 2nd quarter. Strs Ohio now owns 8,800 shares of the specialty chemicals company’s stock worth $340,000 after buying an additional 500 shares in the last quarter. Finally, WBI Investments Inc. raised its position in shares of PolyOne by 13.7% during the 2nd quarter. WBI Investments Inc. now owns 23,084 shares of the specialty chemicals company’s stock worth $894,000 after buying an additional 2,783 shares in the last quarter. Hedge funds and other institutional investors own 96.39% of the company’s stock.
PolyOne Corporation (NYSE POL) traded up $0.29 during midday trading on Monday, hitting $45.43. 102,600 shares of the company were exchanged, compared to its average volume of 488,045. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.96 and a quick ratio of 1.38. PolyOne Corporation has a twelve month low of $31.68 and a twelve month high of $46.59. The company has a market cap of $3,670.93, a P/E ratio of 20.84, a P/E/G ratio of 2.09 and a beta of 1.85.
PolyOne (NYSE:POL) last released its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. PolyOne had a negative net margin of 1.87% and a positive return on equity of 27.77%. The business had revenue of $818.50 million for the quarter, compared to the consensus estimate of $789.32 million. During the same period in the previous year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. analysts forecast that PolyOne Corporation will post 2.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be issued a $0.175 dividend. This is an increase from PolyOne’s previous quarterly dividend of $0.14. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, December 14th. PolyOne’s payout ratio is presently -71.05%.
A number of analysts have commented on POL shares. BidaskClub downgraded shares of PolyOne from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. started coverage on shares of PolyOne in a research report on Wednesday, August 16th. They set an “outperform” rating and a $43.00 price target on the stock. CIBC started coverage on shares of PolyOne in a research report on Thursday, August 17th. They set an “outperform” rating and a $43.00 price target on the stock. Zacks Investment Research upgraded shares of PolyOne from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Jefferies Group LLC restated a “hold” rating and set a $42.00 price target on shares of PolyOne in a research report on Friday, September 15th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. PolyOne presently has a consensus rating of “Buy” and a consensus target price of $43.17.
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PolyOne Company Profile
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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