This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ICO Acquisition Spurs Heavy Volume

HOUSTON ( TheStreet) -- ICO (ICOC) shares jumped Thursday on above-average volume after A. Schulman (SHLM - Get Report) agreed to buy the company in a $191.4 million transaction.

A. Schulman, which supplies high-performance plastic compounds and resins to consumers and automotive markets, will pay $105 million in cash and 5.1 million shares of common stock for all outstanding shares of ICO.

Shareholders of ICO, which produces custom polymer powders, will receive $6.79 a share, a 51% premium to the stock's closing price Wednesday.

ICO shares were jumping by $2.11, or 46.9%, to $6.61. Earlier in the session, the stock touched an intraday and new 52-week high of $6.67. More than 820,000 shares changed hands by 10 a.m. EST Thursday, compared to the stock's 50-day average daily volume of 100,000, according to the Nasdaq.

ICO has a 24.1 million-share float with a short interest float of 1.8% as of Nov. 13, according to Yahoo! Finance. Insiders hold only 5.6% of the company's shares, with another 51.3% owned by institutions.

-- Written by Robert Holmes in New York.

Check out all of Thursday's high-volume, under-$5 stocks at the Dollar Store

Follow Robert Holmes on Twitter and become a fan of on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SHLM $45.18 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs