Princeton Alpha Management LP decreased its position in PolyOne Co. (NYSE:POL) by 50.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,110 shares of the specialty chemicals company’s stock after selling 12,260 shares during the period. Princeton Alpha Management LP’s holdings in PolyOne were worth $413,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Riverhead Capital Management LLC boosted its stake in shares of PolyOne by 22.4% in the third quarter. Riverhead Capital Management LLC now owns 4,200 shares of the specialty chemicals company’s stock valued at $142,000 after buying an additional 768 shares during the period. Tyers Asset Management LLC bought a new stake in shares of PolyOne during the fourth quarter valued at approximately $150,000. Creative Planning boosted its stake in shares of PolyOne by 22.7% in the first quarter. Creative Planning now owns 4,520 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 836 shares during the period. Flinton Capital Management LLC bought a new stake in shares of PolyOne during the fourth quarter valued at approximately $182,000. Finally, WFG Advisors LP boosted its stake in shares of PolyOne by 408.4% in the fourth quarter. WFG Advisors LP now owns 5,084 shares of the specialty chemicals company’s stock valued at $207,000 after buying an additional 4,084 shares during the period. Hedge funds and other institutional investors own 93.51% of the company’s stock.
PolyOne Co. (NYSE:POL) traded up 1.43% during midday trading on Friday, reaching $37.64. 1,018,460 shares of the company were exchanged. PolyOne Co. has a 52-week low of $28.77 and a 52-week high of $40.88. The firm’s 50-day moving average price is $36.48 and its 200 day moving average price is $33.92. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 18.28 and a beta of 1.60.
PolyOne (NYSE:POL) last released its quarterly earnings data on Thursday, April 27th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. PolyOne had a return on equity of 24.77% and a net margin of 4.95%. The business had revenue of $899 million for the quarter, compared to analysts’ expectations of $860.52 million. During the same quarter in the previous year, the business posted $0.56 EPS. PolyOne’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts predict that PolyOne Co. will post $2.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 16th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, June 14th. PolyOne’s dividend payout ratio (DPR) is presently 27.69%.
Several equities analysts have weighed in on the stock. TheStreet upgraded shares of PolyOne from a “c+” rating to a “b-” rating in a report on Monday, April 24th. Jefferies Group LLC restated a “hold” rating and set a $38.00 target price on shares of PolyOne in a report on Thursday, April 6th. Zacks Investment Research downgraded shares of PolyOne from a “hold” rating to a “sell” rating in a report on Tuesday, April 4th. Finally, Robert W. Baird lifted their price target on shares of PolyOne from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, January 30th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $39.00.
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. Its segments include Color, Additives and Inks; Specialty Engineered Materials; Designed Structures and Solutions; 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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