Nomura Asset Management Co. Ltd. reduced its position in shares of Chemours Company (The) (NYSE:CC) by 87.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,667 shares of the specialty chemicals company’s stock after selling 18,093 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Chemours Company (The) were worth $103,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of CC. BlackRock Inc. raised its stake in Chemours Company (The) by 48,297.2% in the first quarter. BlackRock Inc. now owns 19,160,930 shares of the specialty chemicals company’s stock worth $737,696,000 after buying an additional 19,121,339 shares in the last quarter. Vanguard Group Inc. raised its stake in Chemours Company (The) by 1.2% in the first quarter. Vanguard Group Inc. now owns 18,773,273 shares of the specialty chemicals company’s stock worth $722,771,000 after buying an additional 215,900 shares in the last quarter. FMR LLC raised its stake in Chemours Company (The) by 36.6% in the first quarter. FMR LLC now owns 14,925,373 shares of the specialty chemicals company’s stock worth $574,627,000 after buying an additional 3,998,914 shares in the last quarter. State Street Corp raised its stake in Chemours Company (The) by 35.1% in the first quarter. State Street Corp now owns 5,791,792 shares of the specialty chemicals company’s stock worth $222,987,000 after buying an additional 1,504,657 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Chemours Company (The) by 64.1% in the first quarter. Prudential Financial Inc. now owns 4,473,227 shares of the specialty chemicals company’s stock worth $172,219,000 after buying an additional 1,747,880 shares in the last quarter. 74.92% of the stock is currently owned by institutional investors.
Chemours Company (CC) opened at 44.80 on Friday. The firm has a market cap of $8.26 billion, a P/E ratio of 78.32 and a beta of 3.57. Chemours Company has a 52-week low of $8.55 and a 52-week high of $46.02. The company’s 50 day moving average is $39.82 and its 200-day moving average is $35.52.
Chemours Company (The) (NYSE:CC) last released its quarterly earnings results on Monday, May 1st. The specialty chemicals company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.25. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Chemours Company (The) had a net margin of 1.91% and a return on equity of 125.69%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, equities analysts predict that Chemours Company will post $3.33 EPS for the current fiscal year.
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A number of equities research analysts have recently commented on CC shares. J P Morgan Chase & Co raised shares of Chemours Company (The) from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $39.00 to $50.00 in a research note on Friday, May 12th. Citigroup Inc. raised shares of Chemours Company (The) from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Chemours Company (The) in a research note on Friday, June 16th. BidaskClub raised shares of Chemours Company (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research lowered shares of Chemours Company (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Chemours Company (The) currently has an average rating of “Buy” and a consensus price target of $40.88.
In related news, Director Richard H. Brown purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were acquired at an average price of $39.10 per share, for a total transaction of $97,750.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Kirsch sold 19,036 shares of Chemours Company (The) stock in a transaction on Monday, June 5th. The shares were sold at an average price of $41.42, for a total transaction of $788,471.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,725 shares of company stock worth $1,919,300. 1.14% of the stock is currently owned by company insiders.
About Chemours Company (The)
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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