A. Schulman Inc. (SHLM) Raised to Hold at Zacks Investment Research
A. Schulman Inc. (NASDAQ:SHLM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.
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 research firms have also commented on SHLM. Longbow Research lowered shares of A. Schulman from a “buy” rating to a “neutral” rating in a report on Thursday, August 11th. TheStreet raised shares of A. Schulman from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Gabelli raised shares of A. Schulman from a “hold” rating to a “buy” rating in a report on Tuesday, October 4th. Finally, Northcoast Research raised shares of A. Schulman from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Friday, August 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. A. Schulman presently has an average rating of “Buy” and a consensus target price of $35.40.
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A. Schulman (NASDAQ:SHLM) opened at 27.90 on Tuesday. A. Schulman has a 12 month low of $19.58 and a 12 month high of $39.05. The firm has a market capitalization of $818.56 million, a price-to-earnings ratio of 19.36 and a beta of 1.74. The stock’s 50 day moving average is $27.75 and its 200-day moving average is $26.46.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 4th. Stockholders of record on Monday, October 24th will be paid a $0.205 dividend. The ex-dividend date is Thursday, October 20th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.94%. A. Schulman’s payout ratio is currently 56.94%.
In other A. Schulman news, Director James A. Mitarotonda bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James A. Mitarotonda bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were acquired at an average price of $21.95 per share, for a total transaction 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. 3.44% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of SHLM. Daruma Capital Management LLC increased 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 valued at $47,966,000 after buying an additional 194,822 shares in the last quarter. Tributary Capital Management LLC increased its stake in A. Schulman by 11.3% in the second quarter. Tributary Capital Management LLC now owns 302,109 shares of the company’s stock valued at $7,378,000 after buying an additional 30,623 shares in the last quarter. Zebra Capital Management LLC increased its stake in A. Schulman by 155.5% in the first quarter. Zebra Capital Management LLC now owns 39,801 shares of the company’s stock valued at $1,083,000 after buying an additional 24,222 shares in the last quarter. Foundry Partners LLC acquired a new stake in A. Schulman during the second quarter valued at approximately $3,174,000. Finally, Swiss National Bank increased its stake in A. Schulman by 2.1% in the second quarter. Swiss National Bank now owns 47,900 shares of the company’s stock valued at $1,170,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 89.54% of the company’s stock.
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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