Stifel Nicolaus upgraded shares of PolyOne (NYSE:POL) from a hold rating to a buy rating in a report published on Monday, The Fly reports.
Several other analysts also recently commented on the company. TheStreet downgraded PolyOne from a b- rating to a c+ rating in a research note on Tuesday, December 10th. ValuEngine downgraded PolyOne from a hold rating to a sell rating in a research note on Wednesday, March 18th. Zacks Investment Research raised PolyOne from a hold rating to a buy rating and set a $17.00 price objective for the company in a research note on Wednesday, March 18th. Finally, Wells Fargo & Co lowered their price objective on PolyOne from $42.00 to $23.00 and set an overweight rating for the company in a research note on Monday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $30.43.
POL stock opened at $18.89 on Monday. The company has a market cap of $1.56 billion, a P/E ratio of 2.49, a price-to-earnings-growth ratio of 1.04 and a beta of 1.84. PolyOne has a fifty-two week low of $8.69 and a fifty-two week high of $37.33. The stock’s 50 day simple moving average is $24.62 and its 200 day simple moving average is $31.20. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.78 and a current ratio of 2.15.
PolyOne (NYSE:POL) last issued its quarterly earnings data on Tuesday, January 28th. The specialty chemicals company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $658.60 million during the quarter, compared to the consensus estimate of $687.36 million. PolyOne had a return on equity of 24.03% and a net margin of 18.58%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share. Equities analysts predict that PolyOne will post 1.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Tuesday, March 17th will be given a dividend of $0.203 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Monday, March 16th. PolyOne’s payout ratio is 47.93%.
In other PolyOne news, SVP J Scott Horn purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average cost of $14.81 per share, with a total value of $74,050.00. Also, Director Richard H. Fearon purchased 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were acquired at an average cost of $13.52 per share, with a total value of $121,680.00. Following the completion of the transaction, the director now directly owns 109,980 shares of the company’s stock, valued at approximately $1,486,929.60. The disclosure for this purchase can be found here. Insiders have purchased 18,500 shares of company stock valued at $313,205 over the last ninety days. 1.10% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC bought a new position in PolyOne during the fourth quarter valued at $55,000. Group One Trading L.P. bought a new position in PolyOne during the fourth quarter valued at $74,000. Aigen Investment Management LP bought a new position in PolyOne during the fourth quarter valued at $97,000. NumerixS Investment Technologies Inc bought a new position in PolyOne during the fourth quarter valued at $173,000. Finally, Point72 Hong Kong Ltd bought a new position in PolyOne during the fourth quarter valued at $230,000. 77.86% of the stock is owned by institutional investors.
PolyOne Company Profile
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and Distribution. The Color, Additives and Inks segment offers specialized color and additive concentrates in solid and liquid form for thermoplastics; dispersions for thermosets; and specialty inks, plastisols, and vinyl slush molding solutions.
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