Shelton Capital Management Purchases Shares of 6,360 PolyOne Corporation (POL)
Shelton Capital Management purchased a new position in shares of PolyOne Corporation (NYSE:POL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,360 shares of the specialty chemicals company’s stock, valued at approximately $246,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC increased its position in PolyOne Corporation by 85.7% during the second quarter. Acrospire Investment Management LLC now owns 2,601 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 1,200 shares during the last quarter. Advisor Group Inc. increased its position in PolyOne Corporation by 2.6% during the second quarter. Advisor Group Inc. now owns 3,254 shares of the specialty chemicals company’s stock worth $126,000 after buying an additional 84 shares during the last quarter. Quantbot Technologies LP acquired a new position in PolyOne Corporation during the second quarter worth approximately $143,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PolyOne Corporation by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,063 shares of the specialty chemicals company’s stock worth $157,000 after buying an additional 317 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in PolyOne Corporation by 46.3% during the first quarter. Victory Capital Management Inc. now owns 4,223 shares of the specialty chemicals company’s stock worth $144,000 after buying an additional 1,336 shares during the last quarter. 93.98% of the stock is currently owned by hedge funds and other institutional investors.
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PolyOne Corporation (NYSE POL) opened at 41.01 on Wednesday. The stock has a 50 day moving average price of $38.59 and a 200 day moving average price of $37.48. PolyOne Corporation has a 52-week low of $28.77 and a 52-week high of $41.78. The firm’s market cap is $3.35 billion.
PolyOne Corporation (NYSE:POL) last posted its quarterly earnings results on Tuesday, July 25th. The specialty chemicals company reported $0.63 EPS for the quarter, hitting analysts’ consensus estimates of $0.63. The company had revenue of $814.10 million for the quarter, compared to analysts’ expectations of $812.52 million. PolyOne Corporation had a negative net margin of 1.75% and a positive return on equity of 25.84%. PolyOne Corporation’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. Equities analysts predict that PolyOne Corporation will post $2.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Thursday, December 14th. This is a boost from PolyOne Corporation’s previous quarterly dividend of $0.14. PolyOne Corporation’s payout ratio is -73.97%.
A number of equities analysts have weighed in on POL shares. Zacks Investment Research raised PolyOne Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. BidaskClub raised PolyOne Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and set a $42.00 price target on shares of PolyOne Corporation in a research report on Friday, September 15th. CIBC started coverage on PolyOne Corporation in a research report on Thursday, August 17th. They set an “outperform” rating and a $43.00 price target on the stock. Finally, Robert W. Baird reissued a “buy” rating and set a $42.00 price target on shares of PolyOne Corporation in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $42.50.
PolyOne Corporation Company Profile
PolyOne Corporation (PolyOne) provides specialized polymer materials, services and solutions. The Company’s segments include Color, Additives and Inks; Specialty Engineered Materials; Performance Products and Solutions, and PolyOne Distribution. The Color, Additives and Inks segment provides custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets.
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