A. Schulman, Inc. (SHLM) Short Interest Up 34.0% in August
A. Schulman, Inc. (NASDAQ:SHLM) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,074,267 shares, a growth of 34.0% from the August 15th total of 801,686 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average daily trading volume, of 409,186 shares, the days-to-cover ratio is presently 2.6 days.
Large investors have recently modified their holdings of the stock. Royce & Associates LP grew its holdings in A. Schulman by 77.2% during the 2nd quarter. Royce & Associates LP now owns 559,015 shares of the basic materials company’s stock valued at $17,888,000 after purchasing an additional 243,479 shares during the last quarter. Marshall Wace North America L.P. bought a new position in A. Schulman during the 2nd quarter valued at about $1,633,000. Guyasuta Investment Advisors Inc. grew its holdings in A. Schulman by 13.0% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 34,815 shares of the basic materials company’s stock valued at $1,114,000 after purchasing an additional 4,000 shares during the last quarter. Citadel Advisors LLC bought a new position in A. Schulman during the 1st quarter valued at about $1,215,000. Finally, Envestnet Asset Management Inc. grew its holdings in A. Schulman by 1.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 17,936 shares of the basic materials company’s stock valued at $563,000 after purchasing an additional 319 shares during the last quarter. Institutional investors own 84.22% of the company’s stock.
A number of analysts have recently weighed in on the stock. Longbow Research upgraded shares of A. Schulman from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a report on Friday, August 25th. ValuEngine upgraded shares of A. Schulman from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Zacks Investment Research upgraded shares of A. Schulman from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, BidaskClub upgraded shares of A. Schulman from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.33.
Shares of A. Schulman (NASDAQ:SHLM) opened at 31.20 on Tuesday. The stock’s 50 day moving average is $29.21 and its 200-day moving average is $29.86. The stock’s market capitalization is $917.90 million. A. Schulman has a 12-month low of $25.00 and a 12-month high of $37.70.
A. Schulman (NASDAQ:SHLM) last issued its quarterly earnings results on Wednesday, June 28th. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $645.80 million for the quarter, compared to the consensus estimate of $619.54 million. A. Schulman had a negative net margin of 14.86% and a positive return on equity of 35.64%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, analysts expect that A. Schulman will post $1.66 earnings per share for the current year.
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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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