Rockwood Holdings Sees Unusually-High Trading Volume After Dividend Announcement (ROC)
Shares of Rockwood Holdings (NYSE:ROC) saw strong trading volume on Thursday following a dividend announcement from the company, Analyst Ratings.Net reports. 1,579,650 shares traded hands during mid-day trading, an increase of 23% from the previous session’s volume of 1,280,105 shares.The stock last traded at $80.93 and had previously closed at $79.80.
The newly announced dividend is scheduled for Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.26%.
Separately, analysts at Goldman Sachs upgraded shares of Rockwood Holdings from a “neutral” rating to a “buy” rating in a research note on Friday, August 1st. They now have a $89.00 price target on the stock. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $82.60.
The stock has a 50-day moving average of $80.14 and a 200-day moving average of $75.98. The company has a market cap of $5.763 billion and a price-to-earnings ratio of 3.64.
Rockwood Holdings (NYSE:ROC) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.13. The company had revenue of $362.30 million for the quarter, compared to the consensus estimate of $370.03 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts predict that Rockwood Holdings will post $2.17 earnings per share for the current fiscal year.
Rockwood Holdings, Inc (NYSE:ROC) is a developer, manufacturer and marketer of specialty chemicals and advanced materials used for industrial and commercial purposes.
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