Tower Research Capital LLC TRC grew its position in PolyOne Co. (NYSE:POL) by 180.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 15,486 shares of the specialty chemicals company’s stock after acquiring an additional 9,965 shares during the quarter. Tower Research Capital LLC TRC’s holdings in PolyOne were worth $677,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of PolyOne by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,049,426 shares of the specialty chemicals company’s stock valued at $89,600,000 after purchasing an additional 16,252 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of PolyOne in the 3rd quarter valued at about $416,000. Trexquant Investment LP acquired a new position in shares of PolyOne in the 3rd quarter valued at about $279,000. Bahl & Gaynor Inc. lifted its stake in shares of PolyOne by 1.8% in the 3rd quarter. Bahl & Gaynor Inc. now owns 134,205 shares of the specialty chemicals company’s stock valued at $5,868,000 after purchasing an additional 2,428 shares in the last quarter. Finally, American International Group Inc. lifted its stake in shares of PolyOne by 1.2% in the 3rd quarter. American International Group Inc. now owns 214,051 shares of the specialty chemicals company’s stock valued at $9,358,000 after purchasing an additional 2,548 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:POL opened at $31.69 on Friday. The stock has a market cap of $2.57 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.33 and a beta of 1.73. The company has a current ratio of 1.86, a quick ratio of 1.27 and a debt-to-equity ratio of 2.14. PolyOne Co. has a one year low of $30.03 and a one year high of $47.48.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 9th. Investors of record on Friday, December 14th will be issued 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 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, December 13th. PolyOne’s dividend payout ratio (DPR) is presently 31.67%.
In other PolyOne news, SVP M. John Jr. Midea acquired 1,050 shares of the company’s stock in a transaction on Friday, October 26th. The shares were bought at an average cost of $31.08 per share, for a total transaction of $32,634.00. Following the acquisition, the senior vice president now directly owns 3,836 shares of the company’s stock, valued at $119,222.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert E. Abernathy acquired 10,000 shares of the company’s stock in a transaction on Thursday, October 25th. The shares were acquired at an average price of $30.64 per share, for a total transaction of $306,400.00. Following the completion of the acquisition, the director now directly owns 11,593 shares in the company, valued at $355,209.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 17,050 shares of company stock worth $529,174. Company insiders own 1.30% of the company’s stock.
POL has been the topic of several analyst reports. Robert W. Baird dropped their target price on PolyOne from $46.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. Zacks Investment Research upgraded PolyOne from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Oppenheimer dropped their target price on PolyOne from $50.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Wellington Shields downgraded PolyOne from a “gradually accumulate” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, KeyCorp reiterated an “overweight” rating and set a $43.00 target price (down from $50.00) on shares of PolyOne in a report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.00.
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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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