Chemtura Corp (CHMT) was Downgraded by SunTrust to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. SunTrust advised their investors in a research report released on Sep 26, 2016.
On the company’s financial health, Chemtura Corp reported $0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.46. The company had revenue of $441.00 million for the quarter, compared to analysts expectations of $451.50 million. The company’s revenue was down -5.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.29 EPS.
Chemtura Corp opened for trading at $27.79 and hit $27.79 on the upside on Thursday, eventually ending the session at $27.55, with a gain of 0.80% or 0.22 points. The heightened volatility saw the trading volume jump to 4,43,834 shares. Company has a market cap of $1,741 M.
In a different news, on Aug 23, 2016, Dalip Puri (VP and Treasurer) sold 1,900 shares at $31.48 per share price. According to the SEC, on May 5, 2016, Billie S. Flaherty (EVP, Gnrl. Counsel & Secretary) sold 3,993 shares at $26.91 per share price. On Mar 22, 2016, Laurence Michael Orton (VP, Corporate Controller) sold 2,000 shares at $27.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Chemtura Corporation (Chemtura) is a global developer manufacturer and marketer of engineered industrial specialty chemicals. The Companys 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.