The Chemours Company $CC Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in shares of The Chemours Company (NYSE:CC) by 20.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 564,009 shares of the specialty chemicals company’s stock after buying an additional 95,185 shares during the quarter. Allianz Asset Management GmbH owned 0.38% of Chemours worth $8,934,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MTM Investment Management LLC purchased a new stake in Chemours in the 2nd quarter valued at approximately $27,000. Evelyn Partners Asset Management Ltd acquired a new stake in shares of Chemours in the 2nd quarter valued at approximately $37,000. FNY Investment Advisers LLC boosted its stake in shares of Chemours by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 4,000 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 2,000 shares in the last quarter. CWM LLC grew its holdings in Chemours by 34.7% during the second quarter. CWM LLC now owns 4,290 shares of the specialty chemicals company’s stock worth $49,000 after acquiring an additional 1,104 shares during the period. Finally, Itau Unibanco Holding S.A. grew its holdings in Chemours by 102.3% during the second quarter. Itau Unibanco Holding S.A. now owns 7,149 shares of the specialty chemicals company’s stock worth $82,000 after acquiring an additional 3,615 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

Shares of NYSE CC opened at $18.34 on Monday. The company has a current ratio of 1.71, a quick ratio of 0.88 and a debt-to-equity ratio of 13.66. The company’s 50-day moving average price is $13.79 and its 200 day moving average price is $13.97. The Chemours Company has a 52 week low of $9.13 and a 52 week high of $18.69. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -8.26 and a beta of 1.63.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). Chemours had a negative net margin of 5.70% and a positive return on equity of 35.27%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, research analysts forecast that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CC has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. BMO Capital Markets reiterated an “outperform” rating and issued a $20.00 price target on shares of Chemours in a report on Monday, January 19th. UBS Group reduced their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of Chemours from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Finally, Mizuho dropped their target price on shares of Chemours from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, October 16th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Chemours currently has a consensus rating of “Hold” and a consensus target price of $16.67.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.