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Keybanc Capital Markets have downgraded shares of specialty chemical manufacturer PolyOne (NYSE:POL) from a Buy to Hold. The downgrade caused other shares in the sector, such as OMNOVA Solutions Inc. (NYSE:OMN), Quaker Chemical Corp (NYSE:KWR), and Ferro Corporation (NYSE:FOE) to slip 4-10%.
An analyst with the Company claims that volumes are likely to be slower and that the sector will likely underperform as it tends to be cyclical.
PolyOne (NYSE:POL) is trading at $10.41 today, down 4.76%. Shares are down 13.67% in one year. The stock’s trading range for the year is between $9.80 and $16.61.
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