Highbridge Capital Management LLC purchased a new stake in shares of Chemours Company (The) (NYSE:CC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 79,919 shares of the specialty chemicals company’s stock, valued at approximately $3,077,000.
A number of other hedge funds have also bought and sold shares of the stock. 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 valued at $119,000 after buying an additional 1,400 shares during 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, Tyers Asset Management LLC purchased a new stake in Chemours Company (The) during the fourth quarter worth $177,000. Institutional investors and hedge funds own 74.92% of the company’s stock.
Chemours Company (CC) opened at 44.90 on Wednesday. The company has a market cap of $8.28 billion, a P/E ratio of 78.50 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 firm’s 50 day moving average is $39.57 and its 200-day moving average is $35.38.
Chemours Company (The) (NYSE:CC) last issued its quarterly earnings data on Monday, May 1st. The specialty chemicals company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.25. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.32 billion. Chemours Company (The) had a net margin of 1.91% and a return on equity of 125.69%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. On average, analysts predict that Chemours Company will post $3.33 earnings per share for the current fiscal year.
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A number of research firms have recently weighed in on CC. UBS Group AG reiterated a “sell” rating and set a $36.00 target price (up from $35.00) on shares of Chemours Company (The) in a report on Wednesday, June 14th. Zacks Investment Research lowered shares of Chemours Company (The) from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Susquehanna Bancshares Inc raised their price objective on shares of Chemours Company (The) from $45.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, May 15th. 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. Finally, BidaskClub upgraded shares of Chemours Company (The) from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.88.
In other news, VP Erich Parker sold 4,908 shares of Chemours Company (The) stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $45.53, for a total value of $223,461.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard H. Brown bought 2,500 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $39.10 per share, for a total transaction of $97,750.00. The disclosure for this purchase can be found here. Insiders have sold a total of 46,725 shares of company stock valued at $1,919,300 in the last 90 days. Insiders own 1.14% of the company’s stock.
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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