A. Schulman, Inc. (SHLM) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of A. Schulman, Inc. (NASDAQ:SHLM) from a sell rating to a hold rating in a research note released on Saturday morning.
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 brokerages have also weighed in on SHLM. BidaskClub raised A. Schulman from a strong sell rating to a sell rating in a report on Tuesday, July 11th. ValuEngine lowered A. Schulman from a buy rating to a hold rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $33.00.
A. Schulman (SHLM) traded up 1.90% on Friday, reaching $26.75. The company’s stock had a trading volume of 201,925 shares. A. Schulman has a 52-week low of $19.58 and a 52-week high of $37.70. The firm’s 50-day moving average price is $28.96 and its 200 day moving average price is $30.92. The company’s market cap is $786.99 million.
A. Schulman (NASDAQ:SHLM) last announced its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.02. A. Schulman had a negative net margin of 14.86% and a positive return on equity of 35.64%. The firm had revenue of $645.80 million for the quarter, compared to the consensus estimate of $619.54 million. During the same period last year, the company posted $0.79 earnings per share. A. Schulman’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts anticipate that A. Schulman will post $1.65 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 14th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.07%. The ex-dividend date was Wednesday, July 12th. A. Schulman’s dividend payout ratio (DPR) is -6.56%.
A number of institutional investors have recently made changes to their positions in SHLM. BlackRock Inc. raised its position in A. Schulman by 45,121.7% in the first quarter. BlackRock Inc. now owns 3,588,792 shares of the basic materials company’s stock worth $112,868,000 after buying an additional 3,580,856 shares during the last quarter. Vanguard Group Inc. raised its position in A. Schulman by 6.3% in the first quarter. Vanguard Group Inc. now owns 2,654,590 shares of the basic materials company’s stock worth $83,487,000 after buying an additional 156,877 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in A. Schulman by 16.7% in the second quarter. Deprince Race & Zollo Inc. now owns 1,124,746 shares of the basic materials company’s stock worth $35,992,000 after buying an additional 160,832 shares during the last quarter. Victory Capital Management Inc. raised its position in A. Schulman by 11.3% in the first quarter. Victory Capital Management Inc. now owns 1,060,635 shares of the basic materials company’s stock worth $33,357,000 after buying an additional 107,495 shares during the last quarter. Finally, State Street Corp raised its position in A. Schulman by 7.0% in the first quarter. State Street Corp now owns 679,525 shares of the basic materials company’s stock worth $21,367,000 after buying an additional 44,690 shares during the last quarter. 88.27% of the stock is owned by institutional investors and hedge funds.
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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