PolyOne’s management update
On January 17, PolyOne (POL) announced that it appointed Walter Ripple as the vice president of the sustainability section. In the newly formed role, Ripple is responsible for taking initiatives that will help customers and ensure that PolyOne achieves sustainability and performance goals.
Ripple has been serving PolyOne since 2008 through the acquisition of GLS. Robert M. Patterson, PolyOne’s chairman, president, and CEO, said, “Walter has a broad understanding of our specialty technologies and their value-generating applications. He has also forged deep, trusting and collaborative relationships with our many stakeholders. He is uniquely qualified for this important role, which will further accelerate our sustainability efforts.”
PolyOne joined the global Alliance to End Plastic Waste as a founding member along with LyondellBasell (LYB) and Procter & Gamble (PG). The new alliance aims at collective action to eliminate plastic waste from the environment.
Stock price update
Last week, PolyOne stock remained strong during the week. The stock gained 2.8% and closed at $31.65. Despite the gains, the stock traded 10.6% below the 100-day moving average price of $35.4, which indicates prevailing weakness in the stock. However, analysts expect PolyOne’s target price to be $37.9, which implies a return potential of 19.7% over the closing price on January 18. PolyOne’s 14-day RSI (relative strength index) is at 61, which indicates that the stock isn’t overbought or oversold.
On a year-to-date basis, the stock has gained 11.9%, while Eastman Chemical (EMN) has gained 12.3%.
Investors could hold PolyOne indirectly by investing in the WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS). DGRS has invested ~1.0% of its portfolio in PolyOne as of January 18.