Sumitomo Chem Co (SOMMY) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Sumitomo Chem Co (NASDAQ:SOMMY) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Sumitomo Chemical Co., Ltd. engages in the manufacture and sale of chemicals. Its operating segments consists of Basic Chemicals, Petrochemicals and Plastics, Information Technology related Chemicals, Health and Crop Sciences, Pharmaceuticals and Others. Basic Chemicals segment produces organic and inorganic chemicals, synthetic fiber raw materials, methyl methacrylate products, alumina products, additives and dyestuffs. Petrochemicals and Plastics segment consists of synthetic resin, rubber and other resin processed products. IT-Related Chemicals segment sells optical products, color filters, semiconductor processing materials, compound semiconductor materials and battery components. Health and Crop Sciences segment distributes fertilizers, pesticides, insecticides, tropical infectious disease control materials and feed additives. Pharmaceuticals segment develops and sells ethical pharmaceuticals, radiopharmaceutical and radiation therapy equipment. Others segment provides supply of electrical power and stea “

Sumitomo Chem Co (SOMMY) opened at 28.055 on Wednesday. Sumitomo Chem Co has a 1-year low of $20.75 and a 1-year high of $30.55. The company has a 50-day moving average of $28.91 and a 200-day moving average of $27.95. The firm has a market capitalization of $9.17 billion and a price-to-earnings ratio of 9.674.

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