A Schulman Inc (SHLM) Upgraded by Zacks Investment Research to “Hold”
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. “
Shares of A Schulman (NASDAQ:SHLM) traded down 0.249% during midday trading on Thursday, hitting $30.025. 123,004 shares of the company were exchanged. The firm’s market capitalization is $882.52 million. A Schulman has a one year low of $19.58 and a one year high of $37.70. The firm’s 50 day moving average price is $31.25 and its 200 day moving average price is $32.20.
A Schulman (NASDAQ:SHLM) last announced its earnings results on Tuesday, April 4th. The basic materials company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The company earned $568.70 million during the quarter, compared to the consensus estimate of $574.41 million. A Schulman had a negative net margin of 14.77% and a positive return on equity of 17.93%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. Analysts forecast that A Schulman will post $2.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Friday, April 14th will be issued a $0.205 dividend. The ex-dividend date is Tuesday, April 11th. This represents a $0.82 annualized dividend and a dividend yield of 2.72%. A Schulman’s dividend payout ratio is currently -6.53%.
In other news, SVP Gustavo S. Perez sold 6,468 shares of the stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $29.78, for a total value of $192,617.04. Following the completion of the sale, the senior vice president now owns 37,492 shares in the company, valued at $1,116,511.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.08% of the company’s stock.
Several hedge funds have recently made changes to their positions in SHLM. State of Alaska Department of Revenue increased its stake in A Schulman by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,250 shares of the basic materials company’s stock worth $102,000 after buying an additional 90 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in A Schulman by 1.1% in the third quarter. PNC Financial Services Group Inc. now owns 4,995 shares of the basic materials company’s stock worth $146,000 after buying an additional 54 shares in the last quarter. Ellington Management Group LLC acquired a new stake in A Schulman during the fourth quarter worth approximately $221,000. Zacks Investment Management acquired a new stake in A Schulman during the third quarter worth approximately $224,000. Finally, A.R.T. Advisors LLC acquired a new stake in A Schulman during the fourth quarter worth approximately $230,000. Institutional investors own 92.28% of the company’s stock.
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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