Dana Investment Advisors Inc. Has $2.37 Million Position in PolyOne Corporation (POL)
Dana Investment Advisors Inc. trimmed its position in PolyOne Corporation (NYSE:POL) by 23.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,156 shares of the specialty chemicals company’s stock after selling 18,856 shares during the quarter. Dana Investment Advisors Inc. owned 0.07% of PolyOne Corporation worth $2,369,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC increased its stake in shares of PolyOne Corporation by 85.7% in the second quarter. Acrospire Investment Management LLC now owns 2,601 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 1,200 shares during the period. Advisor Group Inc. increased its stake in shares of PolyOne Corporation by 2.6% in the second quarter. Advisor Group Inc. now owns 3,254 shares of the specialty chemicals company’s stock worth $126,000 after buying an additional 84 shares during the period. Quantbot Technologies LP purchased a new position in shares of PolyOne Corporation in the second quarter worth $143,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PolyOne Corporation by 57.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,746 shares of the specialty chemicals company’s stock valued at $128,000 after purchasing an additional 1,370 shares during the period. Finally, Victory Capital Management Inc. increased its position in PolyOne Corporation by 46.3% during the 1st quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock valued at $144,000 after purchasing an additional 1,336 shares during the period. 93.99% of the stock is currently owned by institutional investors.
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POL has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of PolyOne Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. BidaskClub raised shares of PolyOne Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and set a $42.00 price objective on shares of PolyOne Corporation in a research report on Friday, September 15th. CIBC initiated coverage on shares of PolyOne Corporation in a research report on Thursday, August 17th. They set an “outperform” rating and a $43.00 price objective on the stock. 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 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $41.25.
Shares of PolyOne Corporation (NYSE:POL) traded up 0.05% during mid-day trading on Friday, hitting $40.79. 333,954 shares of the stock were exchanged. The firm’s market cap is $3.34 billion. PolyOne Corporation has a 12 month low of $28.77 and a 12 month high of $41.15. The stock’s 50 day moving average is $37.85 and its 200 day moving average is $37.15.
PolyOne Corporation (NYSE:POL) last announced its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. The firm had revenue of $814.10 million for the quarter, compared to analyst estimates of $812.52 million. PolyOne Corporation had a positive return on equity of 25.84% and a negative net margin of 1.75%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. Analysts expect that PolyOne Corporation will post $2.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 15th were paid a dividend of $0.135 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.54 annualized dividend and a dividend yield of 1.32%. PolyOne Corporation’s dividend payout ratio is currently -73.97%.
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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