Bank of America Corp DE Has $6.51 Million Stake in A. Schulman, Inc. (SHLM)

Bank of America Corp DE boosted its position in A. Schulman, Inc. (NASDAQ:SHLM) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 206,895 shares of the basic materials company’s stock after buying an additional 2,849 shares during the period. Bank of America Corp DE’s holdings in A. Schulman were worth $6,507,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of A. Schulman during the fourth quarter worth about $13,181,000. Citadel Advisors LLC purchased a new stake in shares of A. Schulman during the first quarter worth about $1,215,000. Envestnet Asset Management Inc. raised its stake in shares of A. Schulman by 1.8% in the first quarter. Envestnet Asset Management Inc. now owns 17,936 shares of the basic materials company’s stock worth $563,000 after buying an additional 319 shares during the period. First National Bank of Omaha raised its stake in shares of A. Schulman by 22.1% in the first quarter. First National Bank of Omaha now owns 37,970 shares of the basic materials company’s stock worth $1,194,000 after buying an additional 6,864 shares during the period. Finally, Airain ltd purchased a new stake in shares of A. Schulman during the first quarter worth about $262,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

A. Schulman, Inc. (SHLM) opened at 25.95 on Friday. The firm has a 50 day moving average of $29.27 and a 200-day moving average of $31.12. The firm’s market cap is $763.45 million. A. Schulman, Inc. has a one year low of $19.58 and a one year high of $37.70.

A. Schulman (NASDAQ:SHLM) last announced its quarterly earnings data on Wednesday, June 28th. The basic materials company reported $0.63 EPS for the quarter, missing the Zacks’ 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 company had revenue of $645.80 million for the quarter, compared to analysts’ expectations of $619.54 million. During the same period in the previous year, the firm posted $0.79 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts forecast that A. Schulman, Inc. will post $1.65 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, July 14th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, July 12th. A. Schulman’s payout ratio is presently -6.56%.

SHLM has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of A. Schulman from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. BidaskClub upgraded shares of A. Schulman from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $33.00.

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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