Several other equities research analysts have also commented on CHMT. Zacks Investment Research lowered shares of Chemtura Corp. from a buy rating to a hold rating in a report on Tuesday, July 12th. SunTrust Banks Inc. lowered shares of Chemtura Corp. from a buy rating to a neutral rating and set a $33.50 price target for the company. in a report on Monday, September 26th. Finally, Robert W. Baird lowered shares of Chemtura Corp. from an outperform rating to a neutral rating and set a $33.00 price target for the company. in a report on Friday, September 9th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $33.58.
Chemtura Corp. (NYSE:CHMT) last posted its earnings results on Thursday, July 28th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.06. The firm had revenue of $441 million for the quarter, compared to analysts’ expectations of $440.06 million. Chemtura Corp. had a net margin of 2.06% and a return on equity of 11.99%. Chemtura Corp.’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.29 earnings per share.
In other Chemtura Corp. news, VP Dalip Puri sold 900 shares of Chemtura Corp. stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $31.55, for a total transaction of $28,395.00. Following the sale, the vice president now owns 12,124 shares of the company’s stock, valued at approximately $382,512.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.
A number of large investors have recently made changes to their positions in CHMT. Picton Mahoney Asset Management acquired a new stake in shares of Chemtura Corp. during the first quarter valued at about $100,000. Pacad Investment Ltd. purchased a new position in shares of Chemtura Corp. during the second quarter valued at $103,000. Sei Investments Co. boosted its position 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 valued at $113,000 after buying an additional 1,240 shares during the last quarter. Envestnet Asset Management Inc. boosted its position 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 valued at $143,000 after buying an additional 3,547 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Chemtura Corp. by 60.4% in the first quarter. BlackRock Inc. now owns 5,864 shares of the company’s stock valued at $155,000 after buying an additional 2,207 shares during the last quarter. 92.23% 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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