A. Schulman, Inc. (SHLM) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of A. Schulman, Inc. (NASDAQ:SHLM) from a sell rating to a hold rating in a research note published on Thursday, July 13th.
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 upgraded A. Schulman from a strong sell rating to a sell rating in a research report on Tuesday, July 11th. One equities 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’s stock. The company presently has an average rating of Hold and a consensus target price of $33.00.
A. Schulman (SHLM) opened at 26.30 on Thursday. The stock’s market capitalization is $773.75 million. The company has a 50-day moving average price of $28.70 and a 200-day moving average price of $30.82. A. Schulman has a 12-month low of $19.58 and a 12-month high of $37.70.
A. Schulman (NASDAQ:SHLM) last released its earnings results on Wednesday, June 28th. The basic materials company reported $0.63 earnings per share for the quarter, missing the 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 analysts’ expectations of $619.54 million. During the same quarter last year, the business earned $0.79 EPS. The business’s revenue was down .7% compared to the same quarter last year. Analysts expect that A. Schulman will post $1.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 14th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, July 12th. This represents a $0.82 annualized dividend and a yield of 3.12%. A. Schulman’s payout ratio is -6.56%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHLM. State of Alaska Department of Revenue boosted its position 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 valued at $102,000 after buying an additional 90 shares in the last quarter. US Bancorp DE boosted its position in A. Schulman by 23.4% in the second quarter. US Bancorp DE now owns 3,486 shares of the basic materials company’s stock valued at $111,000 after buying an additional 661 shares in the last quarter. Dubuque Bank & Trust Co. acquired a new position in A. Schulman during the first quarter valued at about $209,000. Mason Street Advisors LLC boosted its position in A. Schulman by 7.3% in the first quarter. Mason Street Advisors LLC now owns 6,882 shares of the basic materials company’s stock valued at $216,000 after buying an additional 471 shares in the last quarter. Finally, Miles Capital Inc. boosted its position in A. Schulman by 0.3% in the first quarter. Miles Capital Inc. now owns 7,094 shares of the basic materials company’s stock valued at $223,000 after buying an additional 22 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.
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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