Technical Roundup on Chemicals Stocks -- Platform Specialty Products, Westlake Chemical, Ferro, and Methanex
NEW YORK, August 19, 2016 /PRNewswire/ --
Stock-Callers.com shifts investors' focus on these four Specialty Chemicals stocks, namely, Platform Specialty Products Corp. (NYSE: PAH), Westlake Chemical Corp. (NYSE: WLK), Ferro Corp. (NYSE: FOE), and Methanex Corp. (NASDAQ: MEOH). According to the "Global Specialty Chemical Market Professional Survey Report 2016," the global Specialty Chemicals industry is expected to grow in the coming years due to the increasing demand for enhanced chemicals. Challenges ahead include the rising cost of raw materials, environmental concerns over the usage of specialty chemicals, and strict regulatory framework. Sign up today and download for free the research reports for the stocks covered today at:
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Platform Specialty Products
On Thursday, West Palm Beach, Florida headquartered Platform Specialty Products Corp.'s stock climbed 0.89% to close the day at $9.05 with a total volume of 1.09 million shares traded. The Company's shares have advanced 0.89% in the last month. The stock is trading 0.55% above its 50-day moving average. Additionally, shares of Platform Specialty Products, which produces and sells specialty chemical products in the Americas, the Asia-Pacific, and Europe, have a Relative Strength Index (RSI) of 48.91.
On July 28th, 2016, research firm Citigroup initiated a 'Buy' rating on the Company's stock, issuing a target price of $11 per share.
On August 8th, 2016, Platform Specialty Products reported that net sales on a reported basis for Q2 2016 were $922 million, an increase of 36.5% from Q2 2015. The company's net loss attributable to common stockholders was $9 million, compared to a net loss of $12 million for the same period in 2015. Diluted loss per share was $0.04 on a GAAP basis in the reported quarter compared to a loss of $0.06 in Q2 2015. PAH complete research report is just a click away at:
http://stock-callers.com/registration/?symbol=PAH
Westlake Chemical
Shares in Houston, Texas headquartered Westlake Chemical Corp. rose 3.15%, finishing the session at $49.70. The stock recorded a trading volume of 811,701 shares. The Company's shares have gained 6.88% in the last month and 14.65% in the previous three months. The stock is trading above its 50-day and 200-day moving averages by 10.57% and 3.91%, respectively. Furthermore, shares of Westlake Chemical, which manufactures and markets basic chemicals, vinyls, polymers, and building products, have an RSI of 63.86.
On August 17th, 2016, Westlake Chemical provided an update on its pending acquisition of Axiall Corp. Axiall and Westlake have received all regulatory approvals required for the transaction, including clearance from both the U.S. and Canadian competition authorities. On August 1st, 2016, Axiall filed a definitive proxy statement with the SEC to notify Axiall's shareholders of a special meeting to be held on August 30th, 2016 to vote on the transaction. Assuming the Axiall's shareholders approve the transaction at that meeting, the closing is expected to occur on August 31st, 2016. The complimentary report on WLK can be downloaded at:
http://stock-callers.com/registration/?symbol=WLK
Ferro
Mayfield Heights, Ohio headquartered Ferro Corp.'s stock finished 0.85% higher at $13.11 and with a total volume of 397,714 shares traded. The Company's shares have advanced 4.55% in the past month and 17.90% on an YTD basis. The stock is trading above its 200-day moving average by 9.94%. Additionally, shares of Ferro, which together with its subsidiaries, produces specialty materials in the US and internationally, have an RSI of 46.50.
On July 27th, 2016, Ferro announced that Q2 2016 income from continuing operations attributable to common shareholders was $0.29 per diluted share compared with $0.14 per diluted share in Q2 2015. The company's Q2 2016 net sales increased 11.1% to $298 million compared to $268 million in the year-ago same quarter. Sign up for your complimentary report on FOE at:
http://stock-callers.com/registration/?symbol=FOE
Methanex
Shares in Vancouver, Canada headquartered Methanex Corp. ended Thursday's session 2.00% higher at $29.09 and with a total volume of 581,240 shares traded. The stock has advanced 2.07% in the last month. The Company's shares are trading 0.61% below their 50-day moving average. Moreover, shares of Methanex, which produces and supplies methanol in the Asia Pacific, North America, Europe, and South America, have an RSI of 51.65.
On July 28th, 2016, Methanex announced that via its wholly owned subsidiary Methanex Chile SpA, it has reached an agreement with Empresa Nacional del Petróleo for gas supply for the period through May 2018. This gas supply, when combined with commitments from other sources, is expected to be sufficient to allow the 0.9 million tonne per year Chile I facility to achieve an average annual operating rate of approximately 60% of capacity.
On August 04th, 2016, research firm Cowen reiterated its 'Outperform' rating on the Company's stock with a decrease of the target price from $43 a share to $40 a share. Download the research report for free on MEOH at:
http://stock-callers.com/registration/?symbol=MEOH
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