The stock of Chemtura Corp (NYSE:CHMT) hit a new 52-week high and has $49.38 target or 50.00% above today’s $32.92 share price. The 8 months bullish chart indicates low risk for the $2.08B company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $49.38 price target is reached, the company will be worth $1.04 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 592,066 shares traded hands. Chemtura Corp (NYSE:CHMT) has risen 29.92% since February 26, 2016 and is uptrending. It has outperformed by 19.50% the S&P500.
Analysts await Chemtura Corp (NYSE:CHMT) to report earnings on October, 26. They expect $0.48 EPS, up 6.67% or $0.03 from last year’s $0.45 per share. CHMT’s profit will be $30.33M for 17.15 P/E if the $0.48 EPS becomes a reality. After $0.40 actual EPS reported by Chemtura Corp for the previous quarter, Wall Street now forecasts 20.00% EPS growth.
Chemtura Corp (NYSE:CHMT) Ratings Coverage
Out of 6 analysts covering Chemtura (NYSE:CHMT), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. $35 is the highest target while $34 is the lowest. The $34.50 average target is 4.80% above today’s ($32.92) stock price. Chemtura has been the topic of 8 analyst reports since October 29, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Tuesday, April 26 by BB&T Capital. The firm has “Neutral” rating given on Monday, September 26 by SunTrust. Seaport Global Securities upgraded Chemtura Corp (NYSE:CHMT) on Friday, October 30 to “Buy” rating. KeyBanc Capital Markets upgraded Chemtura Corp (NYSE:CHMT) on Tuesday, April 5 to “Overweight” rating. The stock of Chemtura Corp (NYSE:CHMT) earned “Hold” rating by Gabelli on Tuesday, September 27. The company was downgraded on Friday, September 9 by Robert W. Baird.
According to Zacks Investment Research, “Chemtura Corporation is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products.”
Insitutional Activity: The institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.18, from 0.95 in 2016Q1. The ratio improved, as 21 funds sold all Chemtura Corp shares owned while 61 reduced positions. 30 funds bought stakes while 63 increased positions. They now own 56.96 million shares or 3.09% less from 58.78 million shares in 2016Q1.
Alpha Windward Ltd Liability Corp last reported 15,900 shares in the company. Nordea Management Ab owns 22,956 shares or 0% of their US portfolio. The Pennsylvania-based Pnc Financial Serv Grp has invested 0% in Chemtura Corp (NYSE:CHMT). Aperio Grp Limited Company reported 10,747 shares or 0% of all its holdings. Cipher Cap Ltd Partnership reported 102,155 shares or 0.19% of all its holdings. Proshare Ltd Liability has 0% invested in the company for 13,190 shares. Dana Inv Advsrs holds 0.08% or 65,785 shares in its portfolio. Franklin Resource Inc accumulated 0.04% or 2.75M shares. The Pennsylvania-based Tfs Capital Ltd Liability has invested 0.21% in Chemtura Corp (NYSE:CHMT). Creative Planning accumulated 160 shares or 0% of the stock. Blackrock Fund Advsr has 1.60 million shares for 0.01% of their US portfolio. Morgan Stanley reported 444,878 shares or 0% of all its holdings. Emerald Advisers Inc Pa has 0.04% invested in the company for 27,950 shares. Hall Laurie J Trustee has 0.01% invested in the company for 459 shares. Renaissance Technology Ltd Com has 90,268 shares for 0% of their US portfolio.
Insider Transactions: Since May 3, 2016, the stock had 0 insider purchases, and 3 sales for $195,424 net activity. Another trade for 1,900 shares valued at $59,812 was sold by Puri Dalip. Flaherty Billie S. had sold 3,993 shares worth $107,217.
More notable recent Chemtura Corp (NYSE:CHMT) news were published by: Fool.com which released: “Why Chemtura Corp.’s Shares Popped 16% Today” on September 26, 2016, also Finance.Yahoo.com with their article: “WeissLaw LLP: Chemtura Corp. Acquisition May Not Be in the Best Interests of …” published on September 28, 2016, Blogs.Wsj.com published: “Stocks to Watch: Chemtura, Deutsche Bank, Array BioPharma” on September 26, 2016. More interesting news about Chemtura Corp (NYSE:CHMT) were released by: Streetinsider.com and their article: “Form DFAN14A Chemtura CORP Filed by: Lanxess Deutchland GmbH” published on September 28, 2016 as well as Schaeffersresearch.com‘s news article titled: “Buzz Stocks: Pfizer Inc., GW Pharmaceuticals PLC, and Chemtura Corp” with publication date: September 26, 2016.
CHMT Company Profile
Chemtura Corporation, incorporated on May 27, 1999, is a developer, maker and marketer of engineered industrial specialty chemicals. The Company’s products are sold to industrial manufacturing clients for use as additives, ingredients or intermediates that add value to their end products. The Firm operates through two divisions: Industrial Performance Products and Industrial Engineered Products. The Company’s Industrial Performance Products segment is a maker and marketer of lubricant additive components, synthetic lubricant base-stocks, synthetic finished fluids, calcium sulfonate specialty greases and phosphate and polyester fluids, and is also engaged in the development and production of hot cast elastomer pre-polymers. The Company’s Industrial Engineered Products segment is a developer and maker of bromine and bromine products and organometallic compounds. The Firm operates in a range of end-use industries, including automotive, building and construction, electronics, lubricants, packaging and transportation. It operates in North America, Europe and Asia, Asia/Pacific and Latin America.
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