Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of plastics maker A. Schulman (Nasdaq: SHLM) took a nosedive today, falling 10% after the company released earnings.

So what: The company missed estimates by one measly penny and investors have responded by acting like there was a chemical spill on their shares. Adjusted earnings per share came in at $0.34 but revenue had a bigger miss by hitting $495.4 million, lower than the $540.4 million analysts expected.

Now what: The company was not able to pass on all of the cost increases it's experiencing, but is still expecting a strong second quarter. Investors may be cringing over today's results, but beyond this narrow miss I see a company with a price/earnings under 13, forward price/earnings under 10, and management confident about the next quarter. I am buying today's dip as a short-term blip in an otherwise solid fundamental story.

Interested in more info on A. Schulman? Add it to your watchlist.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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