Short Interest in A. Schulman, Inc. (SHLM) Rises By 34.0%
A. Schulman, Inc. (NASDAQ:SHLM) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,074,267 shares, a growth of 34.0% from the August 15th total of 801,686 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average daily volume of 409,186 shares, the short-interest ratio is currently 2.6 days.
Several equities research analysts have recently issued reports on SHLM shares. ValuEngine raised A. Schulman from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. BidaskClub raised A. Schulman from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research raised A. Schulman from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Longbow Research raised A. Schulman from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.33.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its holdings 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 valued at $102,000 after acquiring an additional 90 shares during the last quarter. US Bancorp DE lifted its holdings in A. Schulman by 23.4% in the second quarter. US Bancorp DE now owns 3,486 shares of the basic materials company’s stock valued at $111,000 after acquiring an additional 661 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in A. Schulman by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 4,854 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 50 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in A. Schulman in the second quarter valued at approximately $204,000. Finally, Mason Street Advisors LLC lifted its holdings 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 valued at $216,000 after acquiring an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.
Shares of A. Schulman (SHLM) opened at 31.05 on Friday. A. Schulman has a 52 week low of $25.00 and a 52 week high of $37.70. The company’s 50 day moving average price is $29.10 and its 200-day moving average price is $29.94. The company’s market capitalization is $913.49 million.
A. Schulman (NASDAQ:SHLM) last released its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $645.80 million during the quarter, compared to analyst estimates of $619.54 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. The company’s revenue was down .7% on a year-over-year basis. Analysts anticipate that A. Schulman will post $1.66 earnings per share for the current fiscal year.
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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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