PolyOne Co. (NYSE:POL) announced a quarterly dividend on Thursday, May 16th, RTT News reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.195 per share by the specialty chemicals company on Wednesday, July 10th. This represents a $0.78 annualized dividend and a dividend yield of 2.92%.
PolyOne has raised its dividend payment by an average of 20.5% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. PolyOne has a dividend payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect PolyOne to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 28.1%.
Shares of POL traded up $0.10 during mid-day trading on Thursday, hitting $26.73. The company’s stock had a trading volume of 891,314 shares, compared to its average volume of 628,453. PolyOne has a one year low of $25.49 and a one year high of $45.70. The company has a current ratio of 1.81, a quick ratio of 1.16 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.12 and a beta of 1.65.
Several brokerages recently commented on POL. Buckingham Research began coverage on PolyOne in a research report on Tuesday, February 5th. They issued a “buy” rating and a $32.40 target price for the company. Zacks Investment Research cut PolyOne from a “hold” rating to a “sell” rating in a research report on Saturday, February 9th. Northcoast Research raised PolyOne from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Thursday, April 18th. ValuEngine cut PolyOne from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 18th. Finally, KeyCorp reduced their target price on PolyOne from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $36.83.
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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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