UBS Asset Management Americas Inc. increased its stake in Chemtura Corp. (NYSE:CHMT) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,033 shares of the company’s stock after buying an additional 975 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.09% of Chemtura Corp. worth $1,584,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of CHMT. Neuberger Berman Group LLC boosted its position in Chemtura Corp. by 40.3% in the second quarter. Neuberger Berman Group LLC now owns 1,708,460 shares of the company’s stock valued at $45,070,000 after buying an additional 490,691 shares during the period. Goldman Sachs Group Inc. boosted its position in Chemtura Corp. by 321.3% in the first quarter. Goldman Sachs Group Inc. now owns 471,567 shares of the company’s stock valued at $12,449,000 after buying an additional 359,626 shares during the period. LSV Asset Management boosted its position in Chemtura Corp. by 34.5% in the second quarter. LSV Asset Management now owns 699,015 shares of the company’s stock valued at $18,440,000 after buying an additional 179,394 shares during the period. AXA acquired a new position in Chemtura Corp. during the first quarter valued at approximately $4,282,000. Finally, I.G. Investment Management LTD. acquired a new position in Chemtura Corp. during the second quarter valued at approximately $2,413,000. 92.23% of the stock is owned by institutional investors.
Shares of Chemtura Corp. (NYSE:CHMT) traded up 0.06% during mid-day trading on Wednesday, hitting $32.79. The stock had a trading volume of 51,394 shares. Chemtura Corp. has a one year low of $23.50 and a one year high of $32.99. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 61.87 and a beta of 1.67. The firm has a 50 day moving average of $30.23 and a 200 day moving average of $28.13.
Chemtura Corp. (NYSE:CHMT) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.40 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $441 million for the quarter, compared to the consensus estimate of $440.06 million. During the same period last year, the company posted $0.29 EPS. The business’s revenue was down 5.0% on a year-over-year basis. On average, analysts forecast that Chemtura Corp. will post $1.77 earnings per share for the current year.
Several research analysts recently commented on CHMT shares. Zacks Investment Research upgraded Chemtura Corp. from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, October 3rd. Gabelli cut Chemtura Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Seaport Global Securities cut Chemtura Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the company from $34.00 to $33.50 in a research note on Monday, October 3rd. Longbow Research cut Chemtura Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 27th. Finally, SunTrust Banks Inc. cut Chemtura Corp. from a “buy” rating to a “neutral” rating and set a $33.50 price objective on the stock. in a research note on Monday, September 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $34.50.
In other news, VP Dalip Puri sold 1,900 shares of the company’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 transaction of $59,812.00. Following the completion of the sale, the vice president now 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 hyperlink. Insiders own 2.60% of the company’s stock.
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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