Palisade Capital Managementnj Lowers stake in PolyOne Corporation (POL)

PolyOne Corporation (POL) : Palisade Capital Managementnj reduced its stake in PolyOne Corporation by 13.12% during the most recent quarter end. The investment management company now holds a total of 672,217 shares of PolyOne Corporation which is valued at $23,594,817 after selling 101,537 shares in PolyOne Corporation , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.PolyOne Corporation makes up approximately 1.00% of Palisade Capital Managementnj’s portfolio.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in POL in the latest quarter, The investment management firm added 692 additional shares and now holds a total of 29,708 shares of PolyOne Corporation which is valued at $1,042,751. PolyOne Corporation makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio. Advisory Services Network added POL to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $3,671.American Century Companies Inc reduced its stake in POL by selling 19,104 shares or 11.16% in the most recent quarter. The Hedge Fund company now holds 152,044 shares of POL which is valued at $5,581,535. PolyOne Corporation makes up approx 0.01% of American Century Companies Inc’s portfolio. Smith Asset Management Group Lp added POL to its portfolio by purchasing 600 company shares during the most recent quarter which is valued at $22,026. Oakbrook Investments added POL to its portfolio by purchasing 6,300 company shares during the most recent quarter which is valued at $236,250. PolyOne Corporation makes up approx 0.01% of Oakbrook Investments’s portfolio.

PolyOne Corporation closed down -0.1 points or -0.28% at $35.4 with 2,22,654 shares getting traded on Monday. Post opening the session at $35.58, the shares hit an intraday low of $35.31 and an intraday high of $35.7 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, PolyOne Corporation reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.61. The company had revenue of $861.50 million for the quarter, compared to analysts expectations of $878.15 million. The company’s revenue was down -2.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.57 EPS.

Investors should note that on Jul 14, 2016, PolyOne Corporation announced a cash dividend of $0.1200. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Oct 6, 2016.

Many Wall Street Analysts have commented on PolyOne Corporation. PolyOne Corporation was Downgraded by Goldman to ” Neutral” on Jul 28, 2016. PolyOne Corporation was Upgraded by Wellington Shields to ” Gradually Accumulate” on Jun 30, 2016.

PolyOne Corporation (PolyOne) is a provider of polymer materials services and solutions. The Company offers specialty polymer formulations color and additive systems plastic sheet and packaging solutions and polymer distribution. The Company operates in five segments: Global Color Additives and Inks; which provides color and additive concentrates; Global Specialty Engineered Materials which offers polymer formulations services and solutions; Designed Structures and Solutions which provides solutions for engineered polymer structures rigid barrier packaging and specialty cast acrylics; Performance Products and Solutions segment consists of the Geon Performance Materials (Geon) and Producer Services business units and PolyOne Distribution segment distributes engineering and commodity grade resins. It offers ColorMatrix fiber colorant solutions which provides late-stage color injection in fiber applications utilizing liquid solutions.

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