MANA Advisors LLC bought a new stake in shares of Chemours Co (NYSE:CC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 37,255 shares of the specialty chemicals company’s stock, valued at approximately $1,865,000. Chemours accounts for 0.8% of MANA Advisors LLC’s portfolio, making the stock its 11th biggest position.
Other institutional investors have also recently made changes to their positions in the company. Strs Ohio purchased a new position in Chemours during the 4th quarter valued at about $116,000. Gamco Investors INC. ET AL purchased a new position in shares of Chemours in the 3rd quarter valued at about $202,000. Bell Bank purchased a new position in shares of Chemours in the 3rd quarter valued at about $202,000. First Allied Advisory Services Inc. purchased a new position in shares of Chemours in the 3rd quarter valued at about $202,000. Finally, First Republic Investment Management Inc. purchased a new position in shares of Chemours in the 3rd quarter valued at about $203,000. Institutional investors own 77.83% of the company’s stock.
In other Chemours news, VP Mark Newman sold 29,381 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $49.19, for a total transaction of $1,445,251.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Kirsch sold 13,770 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $50.01, for a total value of $688,637.70. Following the sale, the insider now owns 63,093 shares of the company’s stock, valued at $3,155,280.93. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.
Chemours Co (NYSE:CC) traded down $0.30 during midday trading on Wednesday, hitting $49.68. The stock had a trading volume of 1,131,652 shares, compared to its average volume of 1,980,000. 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 $9,070.00 and a PE ratio of 9.50. 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 (NYSE:CC) last released its quarterly earnings results on Wednesday, February 14th. The specialty chemicals company reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.24. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Chemours had a return on equity of 115.54% and a net margin of 12.06%. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. analysts forecast that Chemours Co will post 5.3 EPS for the current fiscal year.
Chemours announced that its Board of Directors has authorized a stock buyback program on Friday, December 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several brokerages have recently issued reports on CC. Zacks Investment Research upgraded Chemours from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, February 21st. Morgan Stanley began coverage on Chemours in a research report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 target price on the stock. Barclays reissued a “buy” rating and set a $60.00 target price on shares of Chemours in a research report on Wednesday, December 6th. Goldman Sachs Group lowered 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 lifted their price target on Chemours to $66.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $57.95.
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.
Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.