Retirement Systems of Alabama Buys 125,656 Shares of PolyOne Co. (POL)

Retirement Systems of Alabama raised its stake in shares of PolyOne Co. (NYSE:POL) by 121.3% in the third quarter, Holdings Channel reports. The institutional investor owned 229,210 shares of the specialty chemicals company’s stock after buying an additional 125,656 shares during the quarter. Retirement Systems of Alabama’s holdings in PolyOne were worth $10,021,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. First Hawaiian Bank purchased a new position in shares of PolyOne in the third quarter worth $109,000. Itau Unibanco Holding S.A. purchased a new position in shares of PolyOne in the second quarter worth $171,000. Advisors Asset Management Inc. raised its stake in shares of PolyOne by 5,112.2% in the second quarter. Advisors Asset Management Inc. now owns 350,783 shares of the specialty chemicals company’s stock worth $205,000 after purchasing an additional 344,053 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of PolyOne by 64.3% in the second 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 during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of PolyOne in the second quarter worth $274,000. Institutional investors and hedge funds own 92.71% of the company’s stock.

Shares of POL opened at $32.31 on Thursday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.86 and a quick ratio of 1.27. PolyOne Co. has a one year low of $30.03 and a one year high of $47.48. The firm has a market capitalization of $2.46 billion, a P/E ratio of 14.62, a PEG ratio of 1.29 and a beta of 1.44.



PolyOne (NYSE:POL) last issued its quarterly earnings data on Wednesday, October 24th. The specialty chemicals company reported $0.62 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.62. PolyOne had a return on equity of 32.72% and a net margin of 5.33%. The company had revenue of $883.00 million during the quarter, compared to analyst estimates of $887.93 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. PolyOne’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that PolyOne Co. will post 2.41 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 9th. Investors of record on Friday, December 14th will be issued a $0.195 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.78 annualized dividend and a dividend yield of 2.41%. This is a positive change from PolyOne’s previous quarterly dividend of $0.18. PolyOne’s payout ratio is presently 31.67%.

In other news, SVP M. John Jr. Midea acquired 1,050 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average price of $31.08 per share, with a total value of $32,634.00. Following the completion of the acquisition, the senior vice president now directly owns 3,836 shares of the company’s stock, valued at approximately $119,222.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert M. Patterson sold 39,196 shares of PolyOne stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $43.46, for a total value of $1,703,458.16. The disclosure for this sale can be found here. Insiders purchased 17,050 shares of company stock valued at $529,174 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on the company. Zacks Investment Research cut PolyOne from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. ValuEngine upgraded PolyOne from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. SunTrust Banks cut PolyOne from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Wellington Shields cut PolyOne from a “gradually accumulate” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, Oppenheimer decreased their price target on PolyOne from $50.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $43.00.

About PolyOne

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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Institutional Ownership by Quarter for PolyOne (NYSE:POL)

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