Teachers Advisors LLC grew its position in Chemours Co (NYSE:CC) by 28.8% during the 4th quarter, Holdings Channel reports. The firm owned 850,749 shares of the specialty chemicals company’s stock after purchasing an additional 190,478 shares during the period. Teachers Advisors LLC’s holdings in Chemours were worth $42,588,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Chemours by 15.2% in the fourth quarter. BlackRock Inc. now owns 17,619,233 shares of the specialty chemicals company’s stock valued at $882,018,000 after purchasing an additional 2,323,538 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Chemours by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 2,566,418 shares of the specialty chemicals company’s stock valued at $128,475,000 after purchasing an additional 194,509 shares during the last quarter. JPMorgan Chase & Co. grew its position in Chemours by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 2,201,287 shares of the specialty chemicals company’s stock worth $110,969,000 after buying an additional 234,705 shares in the last quarter. Victory Capital Management Inc. grew its position in Chemours by 33.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,203,479 shares of the specialty chemicals company’s stock worth $60,246,000 after buying an additional 299,502 shares in the last quarter. Finally, Capital Growth Management LP acquired a new stake in Chemours during the third quarter worth approximately $38,970,000. 77.78% of the stock is currently owned by institutional investors.
In other Chemours news, insider Paul Kirsch sold 13,770 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $50.01, for a total transaction of $688,637.70. Following the completion of the sale, the insider now directly owns 63,093 shares in the company, valued at $3,155,280.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Newman sold 29,381 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $49.19, for a total value of $1,445,251.39. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Chemours from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, February 21st. Morgan Stanley assumed coverage on Chemours in a research report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 price target on the stock. Barclays reissued a “buy” rating and set a $60.00 price target on shares of Chemours in a research report on Wednesday, December 6th. Goldman Sachs downgraded Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Wednesday, December 6th. Finally, Jefferies Group increased their price target on Chemours to $66.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $57.95.
Shares of Chemours Co (CC) opened at $49.43 on Tuesday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.55 and a current ratio of 2.12. Chemours Co has a 12 month low of $32.31 and a 12 month high of $58.08. The firm has a market capitalization of $9,089.70, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.61 and a beta of 3.03.
Chemours (NYSE:CC) last released its earnings results on Wednesday, February 14th. The specialty chemicals company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.24. Chemours had a return on equity of 115.54% and a net margin of 12.06%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 19.1% on a year-over-year basis. equities analysts anticipate that Chemours Co will post 5.3 EPS for the current fiscal year.
Chemours declared that its Board of Directors has approved a share buyback plan on Friday, December 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
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The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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