Chemtura Corp. (NYSE:CHMT) Given Consensus Rating of “Hold” by Analysts
Shares of Chemtura Corp. (NYSE:CHMT) have received a consensus rating of “Hold” from the nine brokerages that are covering the stock. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $34.50.
A number of brokerages have commented on CHMT. Zacks Investment Research upgraded shares of Chemtura Corp. from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Tuesday, August 2nd. Seaport Global Securities cut shares of Chemtura Corp. from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $34.00 to $33.50 in a research note on Monday. Robert W. Baird cut shares of Chemtura Corp. from an “outperform” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Friday, September 9th. SunTrust Banks Inc. cut shares of Chemtura Corp. from a “buy” rating to a “neutral” rating and set a $33.50 price objective for the company. in a research note on Monday, September 26th. Finally, Gabelli cut shares of Chemtura Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th.
Chemtura Corp. (NYSE:CHMT) opened at 32.76 on Friday. Chemtura Corp. has a 52 week low of $23.50 and a 52 week high of $32.99. The stock has a market capitalization of $2.07 billion, a P/E ratio of 61.81 and a beta of 1.66. The firm’s 50-day moving average is $29.99 and its 200-day moving average is $27.89.
Chemtura Corp. (NYSE:CHMT) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.40 EPS for the quarter, missing the Zacks’ 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 return on equity of 11.99% and a net margin of 2.06%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. On average, equities research analysts predict that Chemtura Corp. will post $1.77 EPS for the current fiscal year.
In other Chemtura Corp. news, VP Dalip Puri sold 900 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $31.55, for a total transaction of $28,395.00. Following the completion of the transaction, the vice president now directly owns 12,124 shares in the company, valued at approximately $382,512.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.
Several large investors have recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new stake in shares of Chemtura Corp. during the first quarter worth approximately $100,000. Pacad Investment Ltd. purchased a new stake in shares of Chemtura Corp. during the second quarter worth approximately $103,000. Sei Investments Co. increased 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. increased 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. increased 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. Institutional investors and hedge funds own 92.23% of the company’s stock.
About Chemtura Corp.
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.
Receive News & Stock Ratings for Chemtura Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemtura Corp. and related stocks with our FREE daily email newsletter.