Chemtura Corp. (NYSE:CHMT) was downgraded by SunTrust Banks Inc. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday. They currently have a $33.50 target price on the stock. SunTrust Banks Inc.’s price target points to a potential upside of 2.51% from the company’s current price.
Several other research analysts have also issued reports on CHMT. Zacks Investment Research lowered shares of Chemtura Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. 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. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.58.
Shares of Chemtura Corp. (NYSE:CHMT) opened at 32.68 on Monday. The company has a 50-day moving average price of $29.56 and a 200 day moving average price of $27.64. The firm has a market capitalization of $2.07 billion, a P/E ratio of 61.66 and a beta of 1.84. Chemtura Corp. has a one year low of $23.50 and a one year high of $32.81.
Chemtura Corp. (NYSE:CHMT) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.06. The business earned $441 million during the quarter, compared to analyst estimates of $440.06 million. Chemtura Corp. had a return on equity of 11.99% and a net margin of 2.06%. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS. Analysts expect that Chemtura Corp. will post $1.77 earnings per share for the current fiscal year.
In related news, VP Dalip Puri sold 1,900 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $31.48, for a total value of $59,812.00. Following the completion of the transaction, the vice president now owns 9,524 shares of the company’s stock, valued at approximately $299,815.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Picton Mahoney Asset Management bought a new stake in shares of Chemtura Corp. during the first quarter worth about $100,000. Pacad Investment Ltd. bought a new stake in shares of Chemtura Corp. during the second quarter worth about $103,000. Sei Investments Co. raised its stake in shares of 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 during the period. Envestnet Asset Management Inc. raised its stake in shares of 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 during the period. Finally, BlackRock Inc. raised its stake in shares of 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 during the period. 91.89% of the stock is 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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