Chemours Company (The) (CC) Shares Bought by Sei Investments Co.
Sei Investments Co. boosted its stake in shares of Chemours Company (The) (NYSE:CC) by 68.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 200,741 shares of the specialty chemicals company’s stock after buying an additional 81,387 shares during the period. Sei Investments Co. owned about 0.11% of Chemours Company (The) worth $10,159,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Essex Financial Services Inc. acquired a new stake in Chemours Company (The) during the 3rd quarter worth about $204,000. Smith Asset Management Group LP increased its holdings in shares of Chemours Company (The) by 3.1% in the 3rd quarter. Smith Asset Management Group LP now owns 44,489 shares of the specialty chemicals company’s stock valued at $2,252,000 after purchasing an additional 1,333 shares during the period. Cavalier Investments LLC acquired a new position in shares of Chemours Company (The) in the 3rd quarter valued at about $1,174,000. United Asset Strategies Inc. acquired a new position in shares of Chemours Company (The) in the 3rd quarter valued at about $397,000. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Chemours Company (The) in the 3rd quarter valued at about $202,000. Hedge funds and other institutional investors own 74.04% of the company’s stock.
CC has been the topic of a number of research reports. BidaskClub downgraded Chemours Company (The) from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Argus reissued a “buy” rating and issued a $55.00 price objective (up from $50.00) on shares of Chemours Company (The) in a research report on Thursday, August 10th. Jefferies Group LLC raised their target price on Chemours Company (The) to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised Chemours Company (The) from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, November 9th. Finally, Barclays PLC raised their target price on Chemours Company (The) from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 6th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Chemours Company (The) presently has an average rating of “Buy” and a consensus price target of $53.89.
In related news, insider E Bryan Snell sold 11,878 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $53.25, for a total value of $632,503.50. Following the transaction, the insider now owns 63,063 shares in the company, valued at $3,358,104.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David C. Shelton sold 13,337 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $48.48, for a total value of $646,577.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,520 shares of company stock worth $4,008,293. 1.14% of the stock is owned by company insiders.
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Shares of Chemours Company (NYSE:CC) opened at $52.50 on Monday. Chemours Company has a 12 month low of $20.76 and a 12 month high of $58.08. The firm has a market capitalization of $9,721.06, a price-to-earnings ratio of 18.62, a PEG ratio of 0.91 and a beta of 3.59. The company has a quick ratio of 1.63, a current ratio of 2.19 and a debt-to-equity ratio of 5.07.
Chemours Company (The) (NYSE:CC) last announced its earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.11. Chemours Company (The) had a return on equity of 116.80% and a net margin of 4.86%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company posted $0.61 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. sell-side analysts predict that Chemours Company will post 3.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, November 20th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Friday, November 17th. Chemours Company (The)’s dividend payout ratio is 8.28%.
About Chemours Company (The)
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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