Other equities research analysts have also recently issued research reports about the company. Gabelli cut Chemtura Corp. from a buy rating to a hold rating in a research note on Tuesday. Zacks Investment Research upgraded Chemtura Corp. from a hold rating to a buy rating and set a $31.00 price target on the stock in a research note on Tuesday, August 2nd. Robert W. Baird cut Chemtura Corp. from an outperform rating to a neutral rating and set a $33.00 price target on the stock. in a research note on Friday, September 9th. Finally, SunTrust Banks Inc. cut Chemtura Corp. from a buy rating to a neutral rating and set a $33.50 price target on the stock. in a research note on Monday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $33.58.
Shares of Chemtura Corp. (NYSE:CHMT) traded up 0.03% on Tuesday, hitting $32.69. The company’s stock had a trading volume of 433,772 shares. Chemtura Corp. has a 52 week low of $23.50 and a 52 week high of $32.81. The stock’s 50-day moving average price is $29.56 and its 200-day moving average price is $27.64. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 61.68 and a beta of 1.84.
Chemtura Corp. (NYSE:CHMT) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.06. Chemtura Corp. had a return on equity of 11.99% and a net margin of 2.06%. The company had revenue of $441 million for the quarter, compared to the consensus estimate of $440.06 million. During the same quarter in the prior year, the company earned $0.29 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. Equities analysts expect that Chemtura Corp. will post $1.77 earnings per share for the current fiscal year.
In other Chemtura Corp. news, VP Dalip Puri sold 1,900 shares of the company’s stock in a transaction on Friday, August 19th. The stock was 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 approximately $299,815.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CHMT. Prudential Financial Inc. raised its stake in Chemtura Corp. by 0.3% in the first quarter. Prudential Financial Inc. now owns 33,517 shares of the company’s stock valued at $885,000 after buying an additional 100 shares during the period. Alpha Windward LLC raised its stake in Chemtura Corp. by 5.6% in the second quarter. Alpha Windward LLC now owns 15,900 shares of the company’s stock valued at $419,000 after buying an additional 840 shares during the period. UBS Asset Management Americas Inc. raised its stake in Chemtura Corp. by 1.7% in the second quarter. UBS Asset Management Americas Inc. now owns 60,033 shares of the company’s stock valued at $1,584,000 after buying an additional 975 shares during the period. Kennedy Capital Management Inc. raised its stake in Chemtura Corp. by 0.4% in the first quarter. Kennedy Capital Management Inc. now owns 282,633 shares of the company’s stock valued at $7,462,000 after buying an additional 1,022 shares during the period. Finally, Raymond James & Associates raised its stake in Chemtura Corp. by 9.9% in the second quarter. Raymond James & Associates now owns 11,725 shares of the company’s stock valued at $309,000 after buying an additional 1,052 shares during the period. 91.89% of the stock is currently owned by institutional investors.
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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