Chemtura Corp (CHMT) Given Average Rating of “Hold” by Analysts
Shares of Chemtura Corp (NYSE:CHMT) have received an average rating of “Hold” from the seven analysts that are covering the stock. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $33.33.
Separately, Zacks Investment Research cut Chemtura Corp from a “hold” rating to a “sell” rating in a report on Thursday, January 5th.
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Several institutional investors have recently made changes to their positions in the stock. Karp Capital Management Corp purchased a new position in shares of Chemtura Corp during the first quarter worth $573,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Chemtura Corp by 45.3% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 592,131 shares of the specialty chemicals company’s stock worth $19,777,000 after buying an additional 184,584 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Chemtura Corp by 2.2% in the first quarter. UBS Asset Management Americas Inc. now owns 40,985 shares of the specialty chemicals company’s stock worth $1,369,000 after buying an additional 873 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Chemtura Corp by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 326,532 shares of the specialty chemicals company’s stock worth $10,905,000 after buying an additional 7,098 shares in the last quarter. Finally, Princeton Alpha Management LP boosted its position in shares of Chemtura Corp by 84.0% in the first quarter. Princeton Alpha Management LP now owns 12,293 shares of the specialty chemicals company’s stock worth $411,000 after buying an additional 5,612 shares in the last quarter. 93.10% of the stock is currently owned by institutional investors.
Shares of Chemtura Corp (NYSE:CHMT) remained flat at $33.50 on Friday. The firm has a 50 day moving average of $33.39 and a 200-day moving average of $33.16. Chemtura Corp has a 1-year low of $24.61 and a 1-year high of $33.55.
Chemtura Corp (NYSE:CHMT) last released its quarterly earnings results on Wednesday, February 22nd. The specialty chemicals company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.41 by $0.07. Chemtura Corp had a net margin of 1.74% and a return on equity of 12.15%. The business earned $385 million during the quarter, compared to analysts’ expectations of $386.47 million. During the same period in the previous year, the business earned $0.44 EPS. The business’s revenue was down 3.5% on a year-over-year basis. On average, analysts forecast that Chemtura Corp will post $2.04 EPS for the current year.
Chemtura Corp Company Profile
Chemtura Corporation is a chemical company. The Company is engaged in developing, manufacturing and marketing of engineered industrial specialty chemicals. The Company’s products are sold to industrial manufacturing customers for use as additives, ingredients or intermediates. The Company’s segments are Industrial Performance Products and Industrial Engineered Products.
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