Sei Investments Co. raised its stake in The Chemours Company (NYSE:CC – Free Report) by 13.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 293,439 shares of the specialty chemicals company’s stock after buying an additional 33,809 shares during the quarter. Sei Investments Co. owned 0.20% of Chemours worth $6,464,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Chemours during the first quarter valued at $3,745,000. Versor Investments LP purchased a new stake in shares of Chemours during the 4th quarter worth about $314,000. Penn Capital Management Company LLC raised its stake in shares of Chemours by 113.0% during the 4th quarter. Penn Capital Management Company LLC now owns 1,386,819 shares of the specialty chemicals company’s stock worth $16,366,000 after purchasing an additional 735,668 shares in the last quarter. Vanguard Group Inc. raised its holdings in Chemours by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock worth $211,287,000 after acquiring an additional 490,778 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Chemours by 19.9% in the fourth quarter. Legal & General Group Plc now owns 2,139,617 shares of the specialty chemicals company’s stock worth $25,226,000 after purchasing an additional 355,074 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on CC. Mizuho cut their price target on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Royal Bank Of Canada raised their target price on Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price target on Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. UBS Group increased their price objective on Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Morgan Stanley boosted their target price on shares of Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chemours has an average rating of “Moderate Buy” and a consensus price target of $24.10.
Chemours Stock Performance
NYSE:CC opened at $17.16 on Tuesday. The stock has a market capitalization of $2.58 billion, a P/E ratio of -6.50 and a beta of 1.43. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 18.98. The Chemours Company has a 1 year low of $10.44 and a 1 year high of $28.67. The firm has a 50 day moving average of $19.75 and a 200-day moving average of $20.04.
Chemours (NYSE:CC – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company earned $0.13 EPS. Chemours’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that The Chemours Company will post 1.18 EPS for the current fiscal year.
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.
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