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A. Schulman Inc. (SHLM) Rose To A New High On Q1 Earnings News

A. Schulman Inc. (SHLM: Quote) reported first quarter adjusted net income of $0.50 per share after the bell Thursday, down from $0.52 per share in the prior year. The consensus estimate was for EPS of $0.49. Net sales grew 4 percent to $540.6 million from $517.3 million last year. Analysts estimated revenues of $495.40 million.

A. Schulman gapped open higher Friday and climbed during the first 45 minutes of trade, before settling into a narrow range. The stock closed up by 1.22 at $30.32, with volume at nearly a 6-month high. A. Schulman has been climbing for the last month and a half and set a new high for the year.

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by RTT Staff Writer

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