Rockwood Holdings (NYSE:ROC) was downgraded by equities researchers at Merrill Lynch from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, Stock Ratings Network.com reports.
Shares of Rockwood Holdings (NYSE:ROC) traded up 0.67% on Tuesday, hitting $66.60. 585,183 shares of the company’s stock traded hands. Rockwood Holdings has a 52-week low of $42.02 and a 52-week high of $69.60. The stock has a 50-day moving average of $65.22 and a 200-day moving average of $65.18. The company has a market cap of $4.975 billion and a P/E ratio of 39.19.
Rockwood Holdings (NYSE:ROC) last announced its earnings results on Monday, August 5th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.13. The company had revenue of $972.30 million for the quarter, compared to the consensus estimate of $8.65 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts predict that Rockwood Holdings will post $2.38 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. downgraded shares of Rockwood Holdings (NYSE:ROC) from a “buy” rating to a “neutral” rating in a research note to investors on Monday. They now have a $73.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of Rockwood Holdings (NYSE:ROC) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, September 19th. They now have a $78.00 price target on the stock, down previously from $80.00. Finally, analysts at Deutsche Bank downgraded shares of Rockwood Holdings (NYSE:ROC) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 9th. They now have a $70.00 price target on the stock, down previously from $77.00. They noted that the move was a valuation call.
One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Rockwood Holdings has a consensus rating of “Hold” and an average target price of $72.70.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 26th. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Monday, September 9th. This is a positive change from Rockwood Holdings’s previous quarterly dividend of $0.40.
Rockwood Holdings, Inc (NYSE:ROC) is a developer, manufacturer and marketer of specialty chemicals and advanced materials used for industrial and commercial purposes.