First Citizens Bank & Trust Co. grew its holdings in shares of PolyOne Co. (NYSE:POL) by 38.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,807 shares of the specialty chemicals company’s stock after purchasing an additional 3,021 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in PolyOne were worth $317,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Martingale Asset Management L P purchased a new position in shares of PolyOne in the 3rd quarter worth $370,000. Riverhead Capital Management LLC raised its position in shares of 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 buying an additional 1,600 shares during the period. Jefferies Group LLC purchased a new position in shares of PolyOne in the 3rd quarter worth $340,000. Pacer Advisors Inc. raised its position in shares of PolyOne by 12.5% in the 3rd quarter. Pacer Advisors Inc. now owns 28,200 shares of the specialty chemicals company’s stock worth $1,233,000 after buying an additional 3,139 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of PolyOne by 86.9% in the 3rd quarter. Verition Fund Management LLC now owns 11,841 shares of the specialty chemicals company’s stock worth $518,000 after buying an additional 5,505 shares during the period. 93.53% of the stock is currently owned by institutional investors.
POL has been the topic of several research reports. Zacks Investment Research raised PolyOne from a “sell” rating to a “hold” rating in a research report on Wednesday, December 26th. Buckingham Research initiated coverage on PolyOne in a research report on Tuesday, February 5th. They issued a “buy” rating and a $32.40 target price on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.08.
PolyOne (NYSE:POL) last posted its quarterly earnings results on Tuesday, January 29th. The specialty chemicals company reported $0.41 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.41. The business had revenue of $834.00 million during the quarter, compared to the consensus estimate of $821.90 million. PolyOne had a return on equity of 33.46% and a net margin of 4.52%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.41 earnings per share. Equities research analysts anticipate that PolyOne Co. will post 2.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.195 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.78 dividend on an annualized basis and a yield of 2.53%. PolyOne’s dividend payout ratio (DPR) is 32.10%.
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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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