Allianz Asset Management GmbH Raises Stock Holdings in The Chemours Company $CC

Allianz Asset Management GmbH lifted its stake in shares of The Chemours Company (NYSE:CC) by 20.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 564,009 shares of the specialty chemicals company’s stock after acquiring an additional 95,185 shares during the period. Allianz Asset Management GmbH’s holdings in Chemours were worth $8,934,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. purchased a new position in Chemours in the 1st quarter valued at about $148,000. Royal Bank of Canada raised its position in shares of Chemours by 6.8% in the first quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company’s stock valued at $7,926,000 after buying an additional 37,382 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Chemours during the first quarter valued at approximately $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Chemours by 149.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company’s stock worth $593,000 after acquiring an additional 25,899 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Chemours in the 1st quarter worth approximately $403,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Performance

Shares of NYSE:CC opened at $18.34 on Monday. The firm has a market capitalization of $2.75 billion, a PE ratio of -8.26 and a beta of 1.63. The company has a debt-to-equity ratio of 13.66, a current ratio of 1.71 and a quick ratio of 0.88. The business has a 50-day moving average of $13.79 and a two-hundred day moving average of $13.97. The Chemours Company has a 12 month low of $9.13 and a 12 month high of $18.69.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share 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 firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’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 year.

Analyst Ratings Changes

Several brokerages have weighed in on CC. Truist Financial boosted their price target on Chemours from $18.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Zacks Research lowered Chemours from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. reduced their target price on Chemours from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $18.00 price target on shares of Chemours in a report on Friday, January 16th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $20.00 price objective on shares of Chemours in a report on Monday, January 19th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chemours has an average rating of “Hold” and an average price target 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.