Jane Street Group LLC reduced its position in Chemours Co (NYSE:CC) by 51.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 76,319 shares of the specialty chemicals company’s stock after selling 81,485 shares during the period. Jane Street Group LLC’s holdings in Chemours were worth $3,821,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Flinton Capital Management LLC grew its stake in shares of Chemours by 67.0% during the 4th quarter. Flinton Capital Management LLC now owns 190,148 shares of the specialty chemicals company’s stock valued at $9,519,000 after buying an additional 76,300 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Chemours by 8.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,486 shares of the specialty chemicals company’s stock valued at $926,000 after buying an additional 1,468 shares during the period. Elkfork Partners LLC purchased a new stake in shares of Chemours during the 4th quarter valued at $7,479,000. TIAA CREF Investment Management LLC grew its stake in shares of Chemours by 25.4% during the 4th quarter. TIAA CREF Investment Management LLC now owns 3,328,220 shares of the specialty chemicals company’s stock valued at $166,611,000 after buying an additional 674,071 shares during the period. Finally, Teachers Advisors LLC grew its stake in shares of Chemours by 28.8% during the 4th quarter. Teachers Advisors LLC now owns 850,749 shares of the specialty chemicals company’s stock valued at $42,588,000 after buying an additional 190,478 shares during the period. 77.78% of the stock is owned by hedge funds and other institutional investors.
In other Chemours news, insider Paul Kirsch sold 13,770 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $50.01, for a total value of $688,637.70. Following the transaction, the insider now owns 63,093 shares in the company, valued at approximately $3,155,280.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Newman sold 29,381 shares of the business’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $49.19, for a total transaction of $1,445,251.39. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
Chemours stock opened at $49.80 on Monday. The company has a current ratio of 2.12, a quick ratio of 1.55 and a debt-to-equity ratio of 4.74. The firm has a market cap of $9,089.70, a price-to-earnings ratio of 12.77, a P/E/G ratio of 0.61 and a beta of 3.03. Chemours Co has a 1-year low of $32.31 and a 1-year high of $58.08.
Chemours (NYSE:CC) last posted its earnings results on Wednesday, February 14th. The specialty chemicals company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.24. Chemours had a net margin of 12.06% and a return on equity of 115.54%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the business posted $0.08 EPS. The business’s quarterly revenue was up 19.1% on a year-over-year basis. research analysts forecast that Chemours Co will post 5.3 earnings per share for the current fiscal year.
Chemours declared that its Board of Directors has approved a share repurchase program on Friday, December 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several brokerages have recently issued reports on CC. Barclays reissued a “buy” rating and set a $60.00 price objective on shares of Chemours in a research note on Wednesday, December 6th. Zacks Investment Research lowered shares of Chemours from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Goldman Sachs lowered shares of Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Wednesday, December 6th. Morgan Stanley started coverage on shares of Chemours in a report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 target price on the stock. Finally, Jefferies Group lifted their target price on shares of Chemours to $66.00 and gave the company a “buy” rating in a report on Monday, December 4th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Chemours currently has a consensus rating of “Buy” and a consensus target price of $57.95.
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Chemours 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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