A. Schulman Inc. (SHLM) Sees Large Volume Increase
Shares of A. Schulman Inc. (NASDAQ:SHLM) saw an uptick in 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 research firms recently commented on SHLM. Longbow Research lowered shares of A. Schulman from a “buy” rating to a “neutral” rating in a report on Thursday. Zacks Investment Research upgraded shares of A. Schulman from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, June 15th. Finally, TheStreet upgraded shares of A. Schulman from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. A. Schulman currently has an average rating of “Buy” and a consensus price target of $39.67.
The stock has a 50-day moving average of $27.01 and a 200 day moving average of $25.87. The firm has a market capitalization of $643.70 million and a P/E ratio of 15.23.
A. Schulman (NASDAQ:SHLM) last posted its earnings results on Tuesday, June 28th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The business earned $650.40 million during the quarter. During the same period in the previous year, the business posted $0.72 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities research analysts anticipate that A. Schulman Inc. will post $2.02 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 15th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.74%. The ex-dividend date was Wednesday, July 13th.
A number of hedge funds and institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in shares of 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. Dimensional Fund Advisors LP raised its stake in shares of A. Schulman by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,383,556 shares of the company’s stock worth $73,032,000 after buying an additional 13,380 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of 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. Bank of Montreal Can raised its stake in shares of 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. Finally, California Public Employees Retirement System raised its stake in shares of 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.
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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