NEW YORK ( TheStreet) -- PolyOne Corporation (NYSE: POL) hit a new 52-week high Wednesday as it is currently trading at $15, above its previous 52-week high of $14.98 with 258,350 shares traded as of 9:48 a.m. ET. Average volume has been 800,500 shares over the past 30 days.

PolyOne has a market cap of $1.3 billion and is part of the basic materials sector and chemicals industry. Shares are up 12.2% year to date as of the close of trading on Tuesday.

PolyOne Corporation provides specialized polymer materials, services, and solutions with operations in thermoplastic compounds, specialty polymer formulations, color and additive systems, thermoplastic resin distribution, and specialty polyvinyl chloride (PVC) resins. The company has a P/E ratio of 8.4, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 17.
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TheStreet Ratings rates PolyOne as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, revenue growth, notable return on equity and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full PolyOne Ratings Report.

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