Ramius Capital sells shares of A. Schulman

By Lisa Kerner

Charlotte, N.C., April 10 - Investors led by Ramius Capital LLC cut their stake in A. Schulman Inc. to 5.9% from 7.4%.

Ramius reported the sale of 190,600 shares of the company's stock between April 7 and April 10 priced from $20.71 to $21.34 per share, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 1,620,635 shares of the Akron, Ohio, plastic resins and plastic compound manufacturer.

On Jan. 10, it was announced that two of the company's four director nominees were re-elected and both of Ramius Capital's nominees were elected to the company's board.

Ramius Capital's nominees, Michael Caporale Jr. and Lee Meyer, filled seats vacated by A. Schulman chief executive officer Joseph M. Gingo and James A. Karman.

The re-elected company director nominees were James A. Mitarotonda and Stanley W. Silverman.

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