Suffolk Capital Management LLC Decreases Stake in PolyOne Corporation (POL)
Suffolk Capital Management LLC lowered its position in shares of PolyOne Corporation (NYSE:POL) by 23.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 36,707 shares of the specialty chemicals company’s stock after selling 11,015 shares during the quarter. Suffolk Capital Management LLC’s holdings in PolyOne Corporation were worth $1,469,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. World Asset Management Inc purchased a new stake in shares of PolyOne Corporation during the 3rd quarter worth about $209,000. Boston Partners grew its holdings in shares of PolyOne Corporation by 1.4% during the 3rd quarter. Boston Partners now owns 204,413 shares of the specialty chemicals company’s stock worth $8,182,000 after purchasing an additional 2,789 shares during the period. Keybank National Association OH grew its holdings in shares of PolyOne Corporation by 23.1% during the 3rd quarter. Keybank National Association OH now owns 39,400 shares of the specialty chemicals company’s stock worth $1,577,000 after purchasing an additional 7,400 shares during the period. Prudential Financial Inc. grew its holdings in shares of PolyOne Corporation 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 during the period. Finally, American Century Companies Inc. grew its holdings in shares of PolyOne Corporation by 72.8% during the 3rd quarter. American Century Companies Inc. now owns 1,069,954 shares of the specialty chemicals company’s stock worth $42,830,000 after purchasing an additional 450,916 shares during the period. Institutional investors and hedge funds own 95.63% of the company’s stock.
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PolyOne Corporation (NYSE POL) traded down $0.45 during midday trading on Friday, reaching $45.17. The company’s stock had a trading volume of 75,703 shares, compared to its average volume of 493,053. The stock has a market cap of $3,727.50, a PE ratio of 21.16, a PEG ratio of 2.12 and a beta of 1.85. PolyOne Corporation has a 52-week low of $31.21 and a 52-week high of $46.59. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.38 and a current ratio of 1.96.
PolyOne Corporation (NYSE:POL) last released its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The company had revenue of $818.50 million during the quarter, compared to analysts’ expectations of $789.32 million. PolyOne Corporation had a positive return on equity of 27.77% and a negative net margin of 1.87%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. equities analysts anticipate that PolyOne Corporation will post 2.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.175 per share. This is a boost from PolyOne Corporation’s previous quarterly dividend of $0.14. This represents a $0.70 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, December 14th. PolyOne Corporation’s dividend payout ratio is -71.05%.
A number of analysts have recently issued reports on the company. CIBC assumed coverage on PolyOne Corporation in a report on Thursday, August 17th. They set an “outperform” rating and a $43.00 target price for the company. Zacks Investment Research upgraded PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 18th. BidaskClub upgraded PolyOne Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. KeyCorp set a $47.00 price target on PolyOne Corporation and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Oppenheimer Holdings, Inc. assumed coverage on PolyOne Corporation in a report on Wednesday, August 16th. They issued an “outperform” rating and a $43.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.17.
PolyOne Corporation 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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