PolyOne Co. (NYSE:POL) Sees Large Drop in Short Interest

PolyOne Co. (NYSE:POL) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 699,700 shares, a drop of 5.4% from the June 30th total of 739,900 shares. Based on an average daily trading volume, of 607,300 shares, the short-interest ratio is currently 1.2 days. Currently, 0.9% of the shares of the stock are sold short.

Shares of PolyOne stock opened at $31.04 on Friday. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market cap of $2.28 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.21 and a beta of 1.73. The firm has a 50 day simple moving average of $31.03 and a 200 day simple moving average of $29.82. PolyOne has a fifty-two week low of $24.47 and a fifty-two week high of $45.34.

PolyOne (NYSE:POL) last issued its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $903.80 million during the quarter, compared to analyst estimates of $933.34 million. PolyOne had a net margin of 4.03% and a return on equity of 33.07%. PolyOne’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. On average, sell-side analysts expect that PolyOne will post 2.55 EPS for the current year.



The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, September 12th. PolyOne’s dividend payout ratio is currently 32.10%.

Several analysts have recently weighed in on the stock. ValuEngine raised shares of PolyOne from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 12th. TheStreet raised shares of PolyOne from a “c+” rating to a “b-” rating in a report on Thursday, July 25th. Robert W. Baird raised shares of PolyOne from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $30.00 to $36.00 in a report on Monday, July 22nd. SunTrust Banks raised shares of PolyOne from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Friday, May 31st. Finally, Wellington Shields raised shares of PolyOne from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. PolyOne presently has a consensus rating of “Buy” and an average target price of $35.86.

Several institutional investors have recently modified their holdings of the stock. Luminus Management LLC acquired a new stake in shares of PolyOne in the second quarter valued at approximately $10,440,000. Royal Bank of Canada increased its holdings in shares of PolyOne by 29.1% in the second quarter. Royal Bank of Canada now owns 31,414 shares of the specialty chemicals company’s stock valued at $986,000 after purchasing an additional 7,074 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of PolyOne in the second quarter valued at approximately $975,000. Doyle Wealth Management acquired a new stake in shares of PolyOne in the second quarter valued at approximately $68,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of PolyOne in the second quarter valued at approximately $31,150,000. 93.06% of the stock is owned by institutional investors and hedge funds.

PolyOne Company Profile

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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