Zacks Investment Research Downgrades SUMITOMO CHEM C/ADR (OTCMKTS:SOMMY) to Hold

SUMITOMO CHEM C/ADR (OTCMKTS:SOMMY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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 “

Separately, ValuEngine raised SUMITOMO CHEM C/ADR from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

Shares of OTCMKTS SOMMY traded down $0.07 during trading hours on Wednesday, reaching $22.54. 7,102 shares of the stock were exchanged, compared to its average volume of 2,829. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 6.94 and a beta of 1.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 1.28. SUMITOMO CHEM C/ADR has a 52 week low of $21.11 and a 52 week high of $27.89. The stock’s fifty day simple moving average is $23.27 and its 200 day simple moving average is $22.70.

About SUMITOMO CHEM C/ADR

Sumitomo Chemical Company, Limited engages in petrochemicals and plastics, energy and functional materials, IT-related, chemicals, health and crop sciences, pharmaceuticals, and other businesses worldwide. Its Petrochemicals & Plastics segment offers synthetic resins, such as polyethylene, polypropylene, and methyl methacrylate resins; raw materials for synthetic fibers; and various industrial chemicals.

Featured Article: What is a trade deficit?

Get a free copy of the Zacks research report on SUMITOMO CHEM C/ADR (SOMMY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SUMITOMO CHEM C/ADR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SUMITOMO CHEM C/ADR and related companies with MarketBeat.com's FREE daily email newsletter.