Nomura Asset Management Co. Ltd. decreased its position in Chemours Company (The) (NYSE:CC) by 87.2% during the first quarter, according to its most recent disclosure 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 SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Ropes Wealth Advisors LLC raised its stake in Chemours Company (The) by 82.4% in the first quarter. Ropes Wealth Advisors LLC now owns 3,099 shares of the specialty chemicals company’s stock worth $119,000 after buying an additional 1,400 shares in the last quarter. Schroder Investment Management Group purchased a new stake in Chemours Company (The) during the first quarter worth $156,000. Cypress Capital Management LLC WY raised its stake in Chemours Company (The) by 1.9% in the first quarter. Cypress Capital Management LLC WY now owns 4,196 shares of the specialty chemicals company’s stock worth $162,000 after buying an additional 80 shares in the last quarter. Clean Yield Group purchased a new stake in Chemours Company (The) during the first quarter worth $167,000. Finally, United Capital Financial Advisers LLC purchased a new stake in Chemours Company (The) during the first quarter worth $203,000. Institutional investors own 75.23% of the company’s stock.
Shares of Chemours Company (NYSE CC) traded down 0.13% during trading on Wednesday, hitting $47.88. 205,197 shares of the company’s stock were exchanged. Chemours Company has a one year low of $8.62 and a one year high of $48.66. The stock has a market cap of $8.83 billion, a P/E ratio of 83.71 and a beta of 3.63. The firm has a 50-day moving average price of $41.37 and a 200-day moving average price of $37.03.
Chemours Company (The) (NYSE:CC) last posted its earnings results on Monday, May 1st. The specialty chemicals company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.25. Chemours Company (The) had a net margin of 1.91% and a return on equity of 125.69%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. Chemours Company (The)’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts expect that Chemours Company will post $3.33 EPS for the current fiscal year.
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CC has been the subject of a number of analyst reports. ValuEngine upgraded shares of Chemours Company (The) from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Citigroup Inc. raised their price objective on shares of Chemours Company (The) from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, April 17th. Jefferies Group LLC restated a “buy” rating and issued a $48.00 price objective on shares of Chemours Company (The) in a report on Friday, June 16th. BidaskClub upgraded shares of Chemours Company (The) from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research lowered shares of Chemours Company (The) from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $40.88.
In related news, VP Erich Parker sold 4,908 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $45.53, for a total transaction of $223,461.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Kirsch sold 19,036 shares of the company’s stock in a transaction that occurred 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. Insiders have sold 46,725 shares of company stock valued at $1,919,300 in the last three months. 1.14% of the stock is currently owned by corporate insiders.
Chemours Company (The) Company Profile
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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