Chemours Co. (CC) Trading Up 8.5%
Shares of Chemours Co. (NYSE:CC) were up 8.5% during mid-day trading on Tuesday . The company traded as high as $9.63 and last traded at $9.54, with a volume of 3,266,583 shares traded. The stock had previously closed at $8.79.
A number of analysts have recently issued reports on CC shares. Zacks Investment Research lowered Chemours from a “hold” rating to a “sell” rating in a research report on Monday, April 4th. Jefferies Group reaffirmed a “hold” rating on shares of Chemours in a research report on Wednesday, April 13th. Citigroup Inc. lifted their target price on Chemours from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, April 18th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Chemours in a research report on Wednesday, May 4th. Finally, Barclays PLC lifted their target price on Chemours from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $9.72.
The stock’s market capitalization is $1.71 billion. The company has a 50-day moving average price of $8.60 and a 200-day moving average price of $7.27.
Chemours (NYSE:CC) last released its quarterly earnings data on Monday, May 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. During the same quarter in the prior year, the company earned $0.33 earnings per share. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. Chemours’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts anticipate that Chemours Co. will post $0.71 EPS for the current fiscal year.
In other Chemours news, Director Bradley J. Bell bought 10,000 shares of Chemours stock in a transaction on Wednesday, May 4th. The shares were purchased at an average cost of $9.65 per share, with a total value of $96,500.00. Following the acquisition, the director now directly owns 21,747 shares of the company’s stock, valued at approximately $209,858.55. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Newman bought 2,800 shares of Chemours stock in a transaction on Friday, May 13th. The shares were acquired at an average cost of $9.71 per share, for a total transaction of $27,188.00. Following the completion of the acquisition, the chief financial officer now directly owns 108,533 shares in the company, valued at $1,053,855.43. The disclosure for this purchase can be found here.
Other large investors have bought and sold shares of the company. State of New Jersey Common Pension Fund D raised its stake in Chemours by 1,700.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 900,000 shares of the company’s stock worth $4,824,000 after buying an additional 850,000 shares during the last quarter. First Trust Advisors LP acquired a new stake in Chemours during the fourth quarter worth $4,266,000. Cornerstone Capital Management Holdings LLC. raised its stake in Chemours by 54.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 277,881 shares of the company’s stock worth $1,489,000 after buying an additional 97,430 shares during the last quarter. State of Wisconsin Investment Board raised its stake in Chemours by 6.8% in the fourth quarter. State of Wisconsin Investment Board now owns 402,390 shares of the company’s stock worth $2,157,000 after buying an additional 25,620 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in Chemours by 9.1% in the fourth quarter. Brown Advisory Inc. now owns 246,270 shares of the company’s stock worth $1,320,000 after buying an additional 20,561 shares during the last quarter.
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Company’s Titanium Technologies segment manufactures titanium dioxide (TiO2), which is a pigment used to deliver whiteness, opacity, brightness and protection from sunlight in applications, such as architectural and industrial coatings, plastic packaging, polyvinyl chloride (PVC) window profiles, laminate papers, coated paper and coated paperboard used for packaging.
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