Zacks Investment Research Downgrades Mitsubishi Chemical (OTCMKTS:MTLHY) to Sell

Mitsubishi Chemical (OTCMKTS:MTLHY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Mitsubishi Chemical Holdings Corporation engages in the production and sale of various chemical, healthcare, and performance products primarily in Japan. The company’s Electronics Applications segment offers optical recording media, display materials, and polyester films. Its Designed Materials segment engages in the business related to aluminum composite materials, sales of construction and industrial materials, plastic shrinkable labels for PET bottles and heat shrinkable tubes. The company’s Health Care segment is involved in businesses related to chemicals and related products, manufacture and sale of pharmaceuticals, clinical testing and diagnostics. Its Chemicals segment engages in the businesses of industrial and specialty chemicals, nonionic surfactants, glycol ethers, and fine chemicals. The company’s Polymers segment’s businesses comprise activities in the areas of PET, polyethylene, and nylon resins for automotive industry. Mitsubishi Chemical Holdings Corporation is headquartered in Tokyo, Japan. “

Shares of Mitsubishi Chemical stock opened at $39.25 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.77 and a current ratio of 1.16. The stock has a market capitalization of $11.82 billion, a PE ratio of 35.36 and a beta of 0.59. Mitsubishi Chemical has a 52-week low of $26.71 and a 52-week high of $41.00. The company has a 50-day simple moving average of $38.60 and a two-hundred day simple moving average of $34.02.

Mitsubishi Chemical Company Profile

Mitsubishi Chemical Holdings Corporation provides performance products, chemicals, industrial gases, health care products, and other products in Japan and internationally. The company's performance products include specialty chemicals, functional food materials, inorganic materials, electronic and electrical components and products, molding and processed products, film and sheet products, synthetic paper and fiber, carbon fiber, equipment, instruments and systems, materials and products for industrial use, construction materials, civil engineering materials, aqua-related materials and products, leisure, sports, and daily goods.

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