Quaker Capital Investments Lowers stake in Chemtura Corp (CHMT)

Chemtura Corp (CHMT) : Quaker Capital Investments reduced its stake in Chemtura Corp by 10.12% during the most recent quarter end. The investment management company now holds a total of 589,736 shares of Chemtura Corp which is valued at $15.6 Million after selling 66,403 shares in Chemtura Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.Chemtura Corp makes up approximately 6.58% of Quaker Capital Investments’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities added CHMT to its portfolio by purchasing 10,135 company shares during the most recent quarter which is valued at $268,882. Richard Bernstein Advisors added CHMT to its portfolio by purchasing 109,992 company shares during the most recent quarter which is valued at $2.9 Million. Chemtura Corp makes up approx 0.29% of Richard Bernstein Advisors’s portfolio. Parkwood added CHMT to its portfolio by purchasing 8,835 company shares during the most recent quarter which is valued at $233,774. Chemtura Corp makes up approx 0.04% of Parkwood’s portfolio.

Chemtura Corp opened for trading at $26.28 and hit $27.235 on the upside on Wednesday, eventually ending the session at $26.79, with a gain of 2.13% or 0.56 points. The heightened volatility saw the trading volume jump to 10,34,205 shares. Company has a market cap of $1,713 M.

On the company’s financial health, Chemtura Corp reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.42. The company had revenue of $414.00 million for the quarter, compared to analysts expectations of $439.75 million. The company’s revenue was down -5.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on Chemtura Corp. BB&T Capital Mkts Upgraded Chemtura Corp on Apr 26, 2016 to ” Buy”, Price Target of the shares are set at $37.Chemtura Corp was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Apr 5, 2016.

Chemtura Corporation (Chemtura) is a global 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. The Company operates in two segments: Industrial Performance Products and Industrial Engineered Products. Its Industrial Performance Products segment is a global manufacturer and marketer of lubricant additive components synthetic lubricant base-stocks synthetic finished fluids calcium sulfonate specialty greases and phosphate and polyester-based fluids and also engaged in the development and production of hot cast elastomer pre-polymers. Its Industrial Engineered Products segment is a global developer and manufacturer of bromine and bromine-based products and organometallic compounds. Its operations are located in North America Latin America Europe and Asia.

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