Richard H. Brown Acquires 10,000 Shares of Chemours Co (CC) Stock
Chemours Co (NYSE:CC) Director Richard H. Brown purchased 10,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was bought at an average cost of $28.60 per share, with a total value of $286,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Chemours stock opened at $27.15 on Thursday. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.39. The company has a market capitalization of $4.64 billion, a P/E ratio of 7.11, a P/E/G ratio of 0.31 and a beta of 2.68. Chemours Co has a fifty-two week low of $27.02 and a fifty-two week high of $54.62.
Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.07. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.71 billion. Chemours had a net margin of 16.02% and a return on equity of 106.98%. Chemours’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 earnings per share. Equities analysts predict that Chemours Co will post 5.69 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Alambic Investment Management L.P. bought a new position in Chemours in the second quarter valued at approximately $519,000. Bourgeon Capital Management LLC boosted its stake in Chemours by 16.7% in the third quarter. Bourgeon Capital Management LLC now owns 14,650 shares of the specialty chemicals company’s stock valued at $578,000 after acquiring an additional 2,100 shares during the last quarter. Cozad Asset Management Inc. bought a new position in Chemours in the second quarter valued at approximately $276,000. Systematic Financial Management LP bought a new position in Chemours in the second quarter valued at approximately $1,298,000. Finally, Bank of America Corp DE boosted its stake in Chemours by 1.5% in the second quarter. Bank of America Corp DE now owns 529,570 shares of the specialty chemicals company’s stock valued at $23,491,000 after acquiring an additional 7,790 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on CC. BMO Capital Markets lowered their price target on shares of Chemours from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Monday, November 5th. They noted that the move was a valuation call. Susquehanna Bancshares lowered their price target on shares of Chemours from $65.00 to $44.00 and set a “positive” rating for the company in a report on Monday, November 5th. SunTrust Banks lowered their price target on shares of Chemours to $38.00 and set a “hold” rating for the company in a report on Monday, November 5th. Citigroup lowered shares of Chemours from a “buy” rating to a “neutral” rating and lowered their price target for the company from $44.00 to $38.00 in a report on Friday, November 2nd. Finally, Zacks Investment Research lowered shares of Chemours from a “hold” rating to a “strong sell” rating in a report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Chemours has an average rating of “Hold” and a consensus price target of $51.11.
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Chemours Company Profile
The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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