PolyOne (POL) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research lowered shares of PolyOne (NYSE:POL) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “PolyOne Corporation provides specialized polymer materials, services and solutions in the United States and internationally. Its Colour, Additives, and Inks segment offers specialized colour and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols etc. The company’s Specialty Engineered Materials segment provides specialty polymer formulations, services, and solutions for designers, assemblers, and processors of thermoplastic materials etc. Its Designed Structures and Solutions segment produce sheet, custom rollstock and specialty film, laminate, and acrylic solutions. The company’s Performance Products and Solutions segment offers vinyl molding and extrusion processors to manufacturers of durable plastic parts and consumer-oriented products. The PolyOne Distribution segment distributes approximately 4,000 grades of engineering and commodity grade resins to custom injection molders and extruders. “
A number of other equities research analysts have also recently weighed in on POL. Jefferies Group reaffirmed a hold rating and issued a $42.00 price objective on shares of PolyOne in a research note on Friday, September 15th. Robert W. Baird reaffirmed a buy rating and issued a $42.00 price objective on shares of PolyOne in a research note on Thursday, October 12th. KeyCorp set a $47.00 price objective on PolyOne and gave the company a buy rating in a research note on Thursday, October 26th. SunTrust Banks reaffirmed a buy rating and issued a $42.00 price objective on shares of PolyOne in a research note on Friday, October 27th. Finally, ValuEngine raised PolyOne from a hold rating to a buy rating in a research note on Sunday, December 31st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $44.00.
Shares of PolyOne (NYSE POL) opened at $45.55 on Tuesday. PolyOne has a one year low of $31.68 and a one year high of $46.79. The company has a quick ratio of 1.38, a current ratio of 1.96 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $3,680.00, a price-to-earnings ratio of 21.79, a PEG ratio of 1.80 and a beta of 1.83.
PolyOne (NYSE:POL) last issued its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. PolyOne had a positive return on equity of 27.77% and a negative net margin of 1.87%. The business had revenue of $818.50 million during the quarter, compared to analysts’ expectations of $789.32 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. sell-side analysts predict that PolyOne will post 2.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.54%. This is a boost from PolyOne’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, December 14th. PolyOne’s payout ratio is presently 33.49%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. grew its stake in 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 purchasing an additional 239,700 shares in the last quarter. Keybank National Association OH acquired a new position in PolyOne during the 2nd quarter worth $1,240,000. Nomura Holdings Inc. acquired a new position in PolyOne during the 2nd quarter worth $471,000. WBI Investments Inc. grew its stake in 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 purchasing an additional 2,783 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in PolyOne by 14.2% during the 2nd quarter. Legal & General Group Plc now owns 89,085 shares of the specialty chemicals company’s stock worth $3,455,000 after purchasing an additional 11,082 shares in the last quarter. 93.67% of the stock is owned by hedge funds and other institutional investors.
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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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