A. Schulman Inc. (SHLM) Upgraded by Zacks Investment Research to “Hold”
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. “
Several other equities analysts have also recently commented on SHLM. TheStreet upgraded shares of A. Schulman from a hold rating to a buy rating in a research report on Thursday, July 21st. Gabelli upgraded shares of A. Schulman from a hold rating to a buy rating in a research report on Tuesday, October 4th. Northcoast Research upgraded shares of A. Schulman from a neutral rating to a buy rating and set a $30.00 target price for the company in a research report on Friday, August 26th. Finally, Longbow Research cut shares of A. Schulman from a buy rating to a neutral rating in a research report on Thursday, August 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $35.40.
A. Schulman (NASDAQ:SHLM) opened at 27.90 on Tuesday. The firm has a 50-day moving average of $27.82 and a 200-day moving average of $26.47. The company has a market capitalization of $818.56 million, a PE ratio of 19.36 and a beta of 1.74. A. Schulman has a 52 week low of $19.58 and a 52 week high of $39.05.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 4th. Investors of record on Monday, October 24th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, October 20th. A. Schulman’s dividend payout ratio is 56.94%.
In related news, Director James A. Mitarotonda acquired 25,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was acquired at an average cost of $24.38 per share, for a total transaction of $609,500.00. Following the transaction, the director now directly owns 30,426 shares in the company, valued at $741,785.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James A. Mitarotonda acquired 50,000 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were bought at an average price of $21.95 per share, with a total value of $1,097,500.00. Following the completion of the transaction, the director now owns 30,426 shares in the company, valued at $667,850.70. The disclosure for this purchase can be found here. Corporate insiders own 3.44% of the company’s stock.
A number of large investors have recently bought and sold shares of SHLM. Vanguard Group Inc. raised its stake in A. Schulman by 3.1% in the second quarter. Vanguard Group Inc. now owns 2,324,773 shares of the company’s stock worth $56,771,000 after buying an additional 69,505 shares during the last quarter. BlackRock Fund Advisors raised its stake in A. Schulman by 2.5% in the second quarter. BlackRock Fund Advisors now owns 1,890,462 shares of the company’s stock worth $46,165,000 after buying an additional 45,640 shares during the last quarter. Daruma Capital Management LLC raised its stake in A. Schulman by 12.4% in the first quarter. Daruma Capital Management LLC now owns 1,762,166 shares of the company’s stock worth $47,966,000 after buying an additional 194,822 shares during the last quarter. Channing Capital Management LLC raised its stake in A. Schulman by 2.3% in the second quarter. Channing Capital Management LLC now owns 1,351,511 shares of the company’s stock worth $33,004,000 after buying an additional 29,836 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in A. Schulman by 25.7% in the second quarter. Deprince Race & Zollo Inc. now owns 991,998 shares of the company’s stock worth $24,225,000 after buying an additional 202,796 shares during the last quarter. 89.54% of the stock is currently owned by hedge funds and other institutional investors.
About A. Schulman
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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