Duality Advisers LP acquired a new position in PolyOne Co. (NYSE:POL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 54,167 shares of the specialty chemicals company’s stock, valued at approximately $1,421,000. Duality Advisers LP owned approximately 0.06% of PolyOne as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. First Horizon Advisors Inc. increased its stake in PolyOne by 113.8% in the 1st quarter. First Horizon Advisors Inc. now owns 1,394 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 742 shares during the last quarter. Ellevest Inc. increased its position in shares of PolyOne by 277.4% in the second quarter. Ellevest Inc. now owns 1,219 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 896 shares during the last quarter. Advisor Group Holdings Inc. bought a new stake in PolyOne during the first quarter worth about $117,000. Beese Fulmer Investment Management Inc. acquired a new position in PolyOne during the second quarter valued at approximately $131,000. Finally, Aigen Investment Management LP boosted its position in PolyOne by 163.5% during the first quarter. Aigen Investment Management LP now owns 6,978 shares of the specialty chemicals company’s stock valued at $132,000 after purchasing an additional 4,330 shares during the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.
Shares of POL opened at $23.90 on Friday. The company’s 50-day moving average is $25.42 and its 200-day moving average is $25.26. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.89 and a quick ratio of 2.50. The firm has a market capitalization of $2.18 billion, a PE ratio of 3.20, a PEG ratio of 1.90 and a beta of 1.84. PolyOne Co. has a fifty-two week low of $8.69 and a fifty-two week high of $37.33.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Friday, June 12th were paid a $0.203 dividend. The ex-dividend date was Thursday, June 11th. This represents a $0.81 dividend on an annualized basis and a yield of 3.40%. PolyOne’s dividend payout ratio (DPR) is currently 47.93%.
Several research firms have recently commented on POL. Robert W. Baird increased their price objective on PolyOne from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Oppenheimer reiterated a “buy” rating and issued a $32.00 price target on shares of PolyOne in a research note on Wednesday, July 1st. Stifel Nicolaus downgraded shares of PolyOne from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Tuesday, June 16th. Zacks Investment Research raised shares of PolyOne from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, SunTrust Banks cut their target price on shares of PolyOne from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $28.00.
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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