A. Schulman Inc. (SHLM) Sees Large Volume Increase
A. Schulman Inc. (NASDAQ:SHLM) saw strong trading volume on Friday . 446,559 shares traded hands during trading, an increase of 61% from the previous session’s volume of 277,365 shares.The stock last traded at $21.77 and had previously closed at $21.89.
A number of equities analysts recently commented on the company. Longbow Research upgraded A. Schulman from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 1st. Zacks Investment Research upgraded A. Schulman from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Finally, TheStreet upgraded A. Schulman from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $39.67.
The stock has a market capitalization of $643.70 million and a price-to-earnings ratio of 15.23. The firm’s 50 day moving average price is $27.09 and its 200 day moving average price is $25.88.
A. Schulman (NASDAQ:SHLM) last released its quarterly earnings results on Tuesday, June 28th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. During the same quarter in the prior year, the company posted $0.72 EPS. The firm earned $650.40 million during the quarter. A. Schulman’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities analysts predict that A. Schulman Inc. will post $2.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 15th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Wednesday, July 13th.
Several large investors have recently added to or reduced their stakes in SHLM. Rhumbline Advisers boosted its stake in A. Schulman by 4.2% in the fourth quarter. Rhumbline Advisers now owns 40,970 shares of the company’s stock worth $1,255,000 after buying an additional 1,650 shares in the last quarter. Bank of Montreal Can boosted its stake in A. Schulman by 8.8% in the fourth quarter. Bank of Montreal Can now owns 58,045 shares of the company’s stock worth $1,779,000 after buying an additional 4,675 shares in the last quarter. New York State Common Retirement Fund boosted its stake in A. Schulman by 34.3% in the fourth quarter. New York State Common Retirement Fund now owns 66,923 shares of the company’s stock worth $2,051,000 after buying an additional 17,092 shares in the last quarter. California Public Employees Retirement System boosted its stake in A. Schulman by 2.2% in the fourth quarter. California Public Employees Retirement System now owns 95,477 shares of the company’s stock worth $2,925,000 after buying an additional 2,100 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in A. Schulman by 5.8% in the fourth quarter. Wells Fargo & Company MN now owns 726,292 shares of the company’s stock worth $22,254,000 after buying an additional 39,941 shares in the last quarter.
A. Schulman, Inc is a supplier of plastic formulations, resins and services. The Company’s segments include Europe, Middle East and Africa (EMEA); United States & Canada (USCAN); Latin America (LATAM); Asia Pacific (APAC), and Engineered Composites (EC). The Company operates in six product families: custom performance colors (CPC), engineered composites, masterbatch solutions, engineered plastics, specialty powders and distribution services.
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