A. Schulman, Inc. (NASDAQ:SHLM) Position Lowered by Morgan Stanley
Morgan Stanley reduced its position in shares of A. Schulman, Inc. (NASDAQ:SHLM) by 8.7% during the first quarter, Holdings Channel reports. The institutional investor owned 152,423 shares of the basic materials company’s stock after selling 14,493 shares during the period. Morgan Stanley’s holdings in A. Schulman were worth $4,794,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in A. Schulman by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,250 shares of the basic materials company’s stock worth $102,000 after buying an additional 90 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new stake in A. Schulman during the first quarter worth approximately $209,000. Mason Street Advisors LLC boosted its stake in A. Schulman by 7.3% in the first quarter. Mason Street Advisors LLC now owns 6,882 shares of the basic materials company’s stock worth $216,000 after buying an additional 471 shares in the last quarter. Bogle Investment Management L P DE purchased a new stake in A. Schulman during the first quarter worth approximately $224,000. Finally, Capstone Asset Management Co. boosted its stake in A. Schulman by 8.4% in the first quarter. Capstone Asset Management Co. now owns 7,707 shares of the basic materials company’s stock worth $242,000 after buying an additional 598 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.
A. Schulman, Inc. (NASDAQ SHLM) traded down 0.19% during trading on Thursday, reaching $26.40. The company’s stock had a trading volume of 6,414 shares. A. Schulman, Inc. has a 12 month low of $19.58 and a 12 month high of $37.70. The stock’s 50-day moving average is $28.46 and its 200 day moving average is $30.66. The company’s market cap is $776.69 million.
A. Schulman (NASDAQ:SHLM) last issued its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.02. A. Schulman had a positive return on equity of 35.64% and a negative net margin of 14.86%. The firm had revenue of $645.80 million during the quarter, compared to the consensus estimate of $619.54 million. During the same period in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts forecast that A. Schulman, Inc. will post $1.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 14th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Wednesday, July 12th. A. Schulman’s payout ratio is -6.56%.
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A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of A. Schulman from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. ValuEngine cut shares of A. Schulman from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, BidaskClub upgraded shares of A. Schulman from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $33.00.
About A. Schulman
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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