Tue, Apr. 5, 10:59 AM
- Chemtura (CHMT +2.8%) is upgraded to Overweight from Sector Weight at Keybanc Capital, which expects the company to benefit from higher bromine prices, improved manufacturing costs and a positive price/cost spread, and that margins in the petroleum additives business may hold up better than anticipated.
- The firm thinks low growth opportunities in the end markets, robust balance sheets and low financing costs are triggering M&A activity in the specialty chemicals sector, and that CHMT and Innospec (IOSP +5.2%) could be buyers or sellers, and the two companies “should consider combining.”
- M&A is a potential catalyst for both names, and "there are merits to the two linking up, strategically amassing greater collective scale and reorienting their combined portfolio toward more attractive end markets,” Keybanc says.
Jul. 9, 2015, 5:40 PM
Nov. 26, 2013, 3:21 PM
- Chemtura (CHMT +2.2%) gets a lift from a bullish coverage initiation at Topeka.
- Analyst Chris Kapsch says there's "additional value likely to be realized via operational improvements, better organic sales growth, prospective divestitures, and the subsequent return of cash to shareholders, via meaningful share repurchases."
- Price target is $30.
- See also: CHMT sells consumer products business
Oct. 10, 2013, 4:48 PM
- Chemtura (CHMT) agrees to sell its consumer products segment to KIK Custom Products for $315M, and says it will explore a sale of its agrochemicals business.
- CHMT says Q3 earnings will come in substantially lower than previous estimates, citing weak performance trends in its industrial performance products and industrial engineered products segments, combined with the impact of adopting discontinued operations treatment for the consumer products segment.
- Shares -4.4% AH.
Jun. 7, 2013, 9:59 AM
May 15, 2013, 9:59 AM
Chemtura (CHMT) pops 5% higher at the open after it acquires UP Chemical's 50% stake in DayStar Materials, a South Korean manufacturer and marketer of high-purity metal organic precursors for the LED market. CHMT says the deal takes advantage of fully integrated infrastructures and feedstock supply.| May 15, 2013, 9:59 AM
Feb. 26, 2013, 12:45 PM
Feb. 26, 2013, 12:31 PM
Chemtura (CHMT -10.5%) shares plunge after the maker of specialty chemicals is downgraded at Oppenheimer, which says Q4 results showed CHMT may be approaching the limits to further margin improvement without a healthier economy. Also, legacy overhead costs from its antioxidants sale will hamper margins, and 2013 capex needs are higher than expected.| Feb. 26, 2013, 12:31 PM
Dec. 27, 2012, 1:54 PM
Specialized chemical maker Chemtura (CHMT +2.9%) trades up on an otherwise down day, after Longbow Research upgraded the shares to a Buy with a $26 price target. The firm cites a number of catalysts, including the company's acquisition of Solaris' bromine assets, a reinvigorated AgroSolutions pipeline, and an eventual divestiture of it's consumer products. The stock has been a solid performer this year, up over 86% YTD.| Dec. 27, 2012, 1:54 PM
Aug. 1, 2012, 5:38 PM
Mar. 16, 2012, 12:45 PM
Chemtura (CHMT +5.3%) shares surge after Oppenheimer upgrades its rating on the maker of additives for plastics to Outperform, "as its long restructuring post-bankruptcy takes hold, Q4's margin expansion looks to have legs, and the rebound in electronics flame retardants, its most profitable segment, is faster than expected."| Mar. 16, 2012, 12:45 PM
Feb. 28, 2012, 10:39 AM
Feb. 27, 2012, 5:13 PMChemtura (CHMT): Q4 EPS of $0.34 may not be comparable to consensus of $0.11. Revenue of $677M (-0.4% Y/Y) misses by $45M. Shares +2.1% AH. (PR) | Feb. 27, 2012, 5:13 PM