Zacks Investment Research cut shares of A Schulman Inc (NASDAQ:SHLM) from a buy rating to a sell rating in a research report released on Wednesday.

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, Seaport Global Securities downgraded A Schulman from a buy rating to a neutral rating and set a $33.00 price target on the stock. in a research note on Thursday, November 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $33.00.

A Schulman (NASDAQ:SHLM) opened at 31.65 on Wednesday. A Schulman has a 12-month low of $19.58 and a 12-month high of $37.70. The company’s 50 day moving average price is $33.64 and its 200-day moving average price is $31.70. The company’s market capitalization is $929.34 million.

A Schulman (NASDAQ:SHLM) last posted its quarterly earnings results on Monday, January 9th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. A Schulman had a positive return on equity of 17.93% and a negative net margin of 14.77%. The business had revenue of $600 million for the quarter. During the same period last year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. Equities analysts forecast that A Schulman will post $2.11 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of SHLM. Norges Bank bought a new stake in shares of A Schulman during the fourth quarter valued at approximately $13,181,000. Miles Capital Inc. bought a new stake in shares of A Schulman during the fourth quarter valued at approximately $237,000. Numeric Investors LLC bought a new stake in shares of A Schulman during the fourth quarter valued at approximately $669,000. Thrivent Financial for Lutherans increased its stake in shares of A Schulman by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,850 shares of the company’s stock valued at $530,000 after buying an additional 1,000 shares during the period. Finally, Ellington Management Group LLC bought a new stake in shares of A Schulman during the fourth quarter valued at approximately $221,000. 92.28% of the stock is owned by hedge funds and other institutional investors.

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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