Chemtura Corp. (NYSE:CHMT) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday. They currently have a $33.00 price objective on the stock. Robert W. Baird’s price objective would indicate a potential upside of 18.11% from the company’s current price.
Separately, Zacks Investment Research downgraded Chemtura Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $33.60.
Shares of Chemtura Corp. (NYSE:CHMT) traded down 6.18% during midday trading on Friday, hitting $27.94. 421,900 shares of the company were exchanged. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 52.72 and a beta of 1.84. Chemtura Corp. has a 52-week low of $23.50 and a 52-week high of $32.34. The company has a 50-day moving average price of $29.45 and a 200-day moving average price of $27.35.
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Chemtura Corp. (NYSE:CHMT) last issued its earnings results on Thursday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.06. The business 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 business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period last year, the company posted $0.29 earnings per share. On average, analysts forecast that Chemtura Corp. will post $1.77 EPS for the current 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 stock was 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 directly 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 accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.
Other large investors recently made changes to their positions in the company. Alpha Windward LLC boosted its stake in shares of Chemtura Corp. by 6.8% in the first quarter. Alpha Windward LLC now owns 15,060 shares of the company’s stock worth $398,000 after buying an additional 960 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Chemtura Corp. by 4.8% in the first quarter. TIAA CREF Investment Management LLC now owns 273,113 shares of the company’s stock worth $7,210,000 after buying an additional 12,519 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of 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 period. Highbridge Capital Management LLC bought a new stake in shares of Chemtura Corp. during the fourth quarter worth approximately $4,003,000. Finally, Aperio Group LLC boosted its stake in shares of Chemtura Corp. by 53.8% in the first quarter. Aperio Group LLC now owns 13,650 shares of the company’s stock worth $360,000 after buying an additional 4,777 shares during the period. Hedge funds and other institutional investors own 92.87% 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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