A. Schulman, Inc. (NASDAQ:SHLM) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of A. Schulman, Inc. (NASDAQ:SHLM) from a sell rating to a hold rating in a research note released on Thursday morning.
According to Zacks, “Schulman Inc. operates in one industry segment which is the sale of plastic resins to customers who use the products as raw materials in their manufacturing operations. The Company purchases plastic resins and other materials which either can be sold directly to customers or used by the Company in the manufacture of other products for sale to customers. All of the products which the Company sells are used for the same purpose–as raw material to be molded or extruded by the Company’s customers. “
Separately, BidaskClub raised shares of A. Schulman from a strong sell rating to a sell rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. A. Schulman currently has an average rating of Hold and a consensus price target of $33.00.
Shares of A. Schulman (SHLM) traded down 0.32% during trading on Thursday, reaching $30.80. The company’s stock had a trading volume of 114,586 shares. The stock’s 50 day moving average price is $29.16 and its 200-day moving average price is $31.76. A. Schulman has a 12 month low of $19.58 and a 12 month high of $37.70. The firm’s market cap is $906.14 million.
A. Schulman (NASDAQ:SHLM) last announced its quarterly earnings results on Wednesday, June 28th. The basic materials company reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.02. A. Schulman had a negative net margin of 14.86% and a positive return on equity of 35.64%. The firm had revenue of $645.80 million during the quarter, compared to the consensus estimate of $619.54 million. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts predict that A. Schulman will post $2.03 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, July 14th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, July 12th. A. Schulman’s payout ratio is -6.56%.
A number of hedge funds and other institutional investors have recently made changes to their positions in SHLM. Eqis Capital Management Inc. increased its position in shares of A. Schulman by 4.3% in the second quarter. Eqis Capital Management Inc. now owns 17,203 shares of the basic materials company’s stock valued at $550,000 after buying an additional 709 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of A. Schulman by 78.7% in the second quarter. State of Alaska Department of Revenue now owns 5,807 shares of the basic materials company’s stock valued at $185,000 after buying an additional 2,557 shares during the last quarter. Ironwood Investment Management LLC increased its position in shares of A. Schulman by 0.5% in the first quarter. Ironwood Investment Management LLC now owns 39,645 shares of the basic materials company’s stock valued at $1,247,000 after buying an additional 195 shares during the last quarter. Highbridge Capital Management LLC increased its position in shares of A. Schulman by 121.9% in the first quarter. Highbridge Capital Management LLC now owns 49,038 shares of the basic materials company’s stock valued at $1,542,000 after buying an additional 26,936 shares during the last quarter. Finally, State Street Corp increased its position in shares of A. Schulman by 7.0% in the first quarter. State Street Corp now owns 679,525 shares of the basic materials company’s stock valued at $21,367,000 after buying an additional 44,690 shares during the last quarter. 88.52% of the stock is owned by hedge funds and other institutional investors.
A. Schulman Company Profile
A. Schulman, Inc is an international supplier of plastic formulations, resins and services, and provides solutions to its customers’ requirements through custom-formulated products. The Company’s customers span a range of markets, such as packaging, mobility, building and construction, electronics and electrical, agriculture, personal care and hygiene, custom services, and sports, home and leisure.
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