KeyCorp cut shares of Chemtura Corp. (NYSE:CHMT) from an overweight rating to a sector weight rating in a research note issued to investors on Monday morning.

Several other equities analysts have also recently issued reports on the company. Longbow Research cut Chemtura Corp. from a buy rating to a neutral rating in a research report on Tuesday, September 27th. Gabelli cut Chemtura Corp. from a buy rating to a hold rating in a research report on Tuesday, September 27th. 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 report on Monday, September 26th. 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 report on Monday, October 3rd. Finally, Seaport Global Securities cut Chemtura Corp. from a buy rating to a neutral rating and dropped their price target for the company from $34.00 to $33.50 in a research report on Monday, October 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $34.50.

Chemtura Corp. (NYSE:CHMT) traded down 0.015% during trading on Monday, hitting $32.865. The stock had a trading volume of 37,380 shares. Chemtura Corp. has a 12-month low of $23.50 and a 12-month high of $32.99. The stock’s 50 day moving average price is $30.52 and its 200 day moving average price is $28.33. The firm has a market cap of $2.08 billion, a P/E ratio of 62.009 and a beta of 1.66.

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 Thomson Reuters’ consensus estimate of $0.46 by $0.06. Chemtura Corp. had a net margin of 2.06% and a return on equity of 11.99%. The firm earned $441 million during the quarter, compared to analysts’ expectations of $440.06 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, analysts anticipate that Chemtura Corp. will post $1.77 EPS for the current fiscal year.

In related news, VP Dalip Puri sold 1,900 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 9,524 shares in the company, valued at approximately $299,815.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC boosted its stake 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 worth $45,070,000 after buying an additional 490,691 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Chemtura Corp. by 321.3% in the first quarter. Goldman Sachs Group Inc. now owns 471,567 shares of the company’s stock worth $12,449,000 after buying an additional 359,626 shares during the last quarter. Paradice Investment Management LLC raised its stake in Chemtura Corp. by 11.5% in the second quarter. Paradice Investment Management LLC now owns 1,767,536 shares of the company’s stock worth $46,628,000 after buying an additional 182,092 shares during the last quarter. LSV Asset Management raised its stake in Chemtura Corp. by 34.5% in the second quarter. LSV Asset Management now owns 699,015 shares of the company’s stock worth $18,440,000 after buying an additional 179,394 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Chemtura Corp. by 10.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,830,482 shares of the company’s stock worth $48,288,000 after buying an additional 171,702 shares during the last quarter. Institutional investors and hedge funds own 92.22% 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.

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