Chemtura Corp. (NYSE:CHMT) was downgraded by stock analysts at Gabelli from a “buy” rating to a “hold” rating in a report released on Tuesday.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Chemtura Corp. from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Tuesday, July 26th. SunTrust Banks Inc. lowered shares of Chemtura Corp. from a “buy” rating to a “neutral” rating and set a $33.50 price target on the stock. in a research report on Monday. Finally, Robert W. Baird lowered shares of Chemtura Corp. from an “outperform” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Friday, September 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Chemtura Corp. presently has an average rating of “Buy” and a consensus target price of $33.58.
Shares of Chemtura Corp. (NYSE:CHMT) opened at 32.64 on Tuesday. Chemtura Corp. has a one year low of $23.50 and a one year high of $32.73. The stock’s 50 day moving average price is $29.44 and its 200 day moving average price is $27.60. The stock has a market capitalization of $2.06 billion, a P/E ratio of 61.58 and a beta of 1.84.
Chemtura Corp. (NYSE:CHMT) last announced its earnings results on Thursday, July 28th. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.06. Chemtura Corp. had a return on equity of 11.99% and a net margin of 2.06%. The business had revenue of $441 million for the quarter, compared to analyst estimates of $440.06 million. During the same quarter in the previous year, the company posted $0.29 EPS. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, analysts forecast that Chemtura Corp. will post $1.77 EPS for the current year.
In other news, VP Dalip Puri sold 1,900 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $31.48, for a total value of $59,812.00. Following the transaction, the vice president now directly owns 9,524 shares of the company’s stock, valued at $299,815.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in Chemtura Corp. during the first quarter worth approximately $100,000. Pacad Investment Ltd. acquired a new position in Chemtura Corp. during the second quarter worth approximately $103,000. Sei Investments Co. raised its position in Chemtura Corp. by 40.8% in the second quarter. Sei Investments Co. now owns 4,279 shares of the company’s stock worth $113,000 after buying an additional 1,240 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Chemtura Corp. by 189.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,421 shares of the company’s stock worth $143,000 after buying an additional 3,547 shares in the last quarter. Finally, BlackRock Inc. raised its position in Chemtura Corp. by 60.4% in the first quarter. BlackRock Inc. now owns 5,864 shares of the company’s stock worth $155,000 after buying an additional 2,207 shares in the last quarter. 91.89% of the stock is currently owned by institutional investors and hedge funds.
Chemtura Corp. Company Profile
Chemtura Corporation is a developer, manufacturer and marketer of engineered industrial specialty chemicals. The Company’s products are sold to industrial manufacturing customers for use as additives, ingredients or intermediates that add value to their end products. It operates through two segments: Industrial Performance Products and Industrial Engineered Products.
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