Tocqueville Asset Management L.P. lessened its holdings in PolyOne Co. (NYSE:POL) by 17.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,750 shares of the specialty chemicals company’s stock after selling 38,450 shares during the period. Tocqueville Asset Management L.P. owned about 0.23% of PolyOne worth $8,165,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of POL. Riverhead Capital Management LLC grew its position in PolyOne by 17.6% in the 3rd quarter. Riverhead Capital Management LLC now owns 10,708 shares of the specialty chemicals company’s stock worth $468,000 after purchasing an additional 1,600 shares in the last quarter. Mutual of America Capital Management LLC grew its position in PolyOne by 2.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 68,582 shares of the specialty chemicals company’s stock worth $2,964,000 after purchasing an additional 1,900 shares in the last quarter. Tower Research Capital LLC TRC grew its position in PolyOne by 64.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,521 shares of the specialty chemicals company’s stock worth $239,000 after purchasing an additional 2,161 shares in the last quarter. Bahl & Gaynor Inc. grew its position in PolyOne by 1.8% in the 3rd quarter. Bahl & Gaynor Inc. now owns 134,205 shares of the specialty chemicals company’s stock worth $5,868,000 after purchasing an additional 2,428 shares in the last quarter. Finally, First Hawaiian Bank bought a new stake in PolyOne in the 3rd quarter worth about $109,000. Institutional investors own 92.45% of the company’s stock.
In related news, Director Robert E. Abernathy bought 10,000 shares of PolyOne stock in a transaction dated Thursday, October 25th. The stock was purchased at an average cost of $30.64 per share, with a total value of $306,400.00. Following the transaction, the director now directly owns 11,593 shares of the company’s stock, valued at $355,209.52. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP J Scott Horn bought 6,000 shares of PolyOne stock in a transaction dated Monday, October 29th. The shares were bought at an average cost of $31.69 per share, with a total value of $190,140.00. Following the completion of the transaction, the senior vice president now directly owns 10,271 shares in the company, valued at $325,487.99. The disclosure for this purchase can be found here. Insiders have bought a total of 17,050 shares of company stock valued at $529,174 over the last three months. Insiders own 1.30% of the company’s stock.
A number of equities research analysts have issued reports on POL shares. Zacks Investment Research raised shares of PolyOne from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine downgraded shares of PolyOne from a “buy” rating to a “hold” rating in a research report on Saturday, September 1st. Wellington Shields downgraded shares of PolyOne from a “gradually accumulate” rating to a “hold” rating in a research report on Wednesday, October 24th. Robert W. Baird reduced their price objective on shares of PolyOne from $46.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, October 25th. Finally, Oppenheimer reduced their price objective on shares of PolyOne from $50.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $43.00.
Shares of POL stock opened at $30.89 on Friday. PolyOne Co. has a 52-week low of $30.03 and a 52-week high of $47.48. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.31 and a beta of 1.73. The company has a quick ratio of 1.27, a current ratio of 1.86 and a debt-to-equity ratio of 2.14.
PolyOne (NYSE:POL) last released its earnings results on Wednesday, October 24th. The specialty chemicals company reported $0.62 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.62. PolyOne had a net margin of 5.33% and a return on equity of 32.72%. The firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $887.93 million. During the same period in the prior year, the firm earned $0.58 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. On average, equities analysts expect that PolyOne Co. will post 2.41 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 9th. Stockholders of record on Friday, December 14th will be given a dividend of $0.195 per share. This is an increase from PolyOne’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, December 13th. PolyOne’s dividend payout ratio is currently 31.67%.
PolyOne Company Profile
PolyOne Corporation provides specialized polymer materials, services, and solutions in the United States, Canada, Mexico, Europe, South America, and Asia. The company operates in four segments: Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions; and PolyOne Distribution.
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