Beach Investment Counsel Inc. PA Invests $355,000 in A. Schulman, Inc. (SHLM)
Beach Investment Counsel Inc. PA acquired a new position in shares of A. Schulman, Inc. (NASDAQ:SHLM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,101 shares of the basic materials company’s stock, valued at approximately $355,000.
A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of A. Schulman during the fourth quarter worth about $13,181,000. Citadel Advisors LLC purchased a new stake in shares of A. Schulman during the first quarter worth about $1,215,000. Envestnet Asset Management Inc. boosted its stake in shares of A. Schulman by 1.8% in the first quarter. Envestnet Asset Management Inc. now owns 17,936 shares of the basic materials company’s stock worth $563,000 after buying an additional 319 shares in the last quarter. First National Bank of Omaha boosted its stake in shares of A. Schulman by 22.1% in the first quarter. First National Bank of Omaha now owns 37,970 shares of the basic materials company’s stock worth $1,194,000 after buying an additional 6,864 shares in the last quarter. Finally, Airain ltd purchased a new stake in shares of A. Schulman during the first quarter worth about $262,000. Institutional investors and hedge funds own 87.38% of the company’s stock.
A. Schulman (NASDAQ:SHLM) last posted its earnings results on Wednesday, June 28th. The basic materials company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates 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 prior year, the company posted $0.79 EPS. The firm’s revenue was down .7% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 14th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Wednesday, July 12th. A. Schulman’s dividend payout ratio (DPR) is currently -6.56%.
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SHLM has been the topic of a number of research reports. Zacks Investment Research cut A. Schulman from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. BidaskClub upgraded A. Schulman from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, ValuEngine cut A. Schulman from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. A. Schulman has a consensus rating of “Hold” and an average target price of $33.00.
About A. Schulman
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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