Chemours Co. (CC) Shares Down 4.8%
Chemours Co. (NYSE:CC) shares dropped 4.8% during mid-day trading on Tuesday . The stock traded as low as $8.77 and last traded at $8.84, with a volume of 1,281,472 shares traded. The stock had previously closed at $9.29.
A number of analysts recently weighed in on CC shares. Citigroup Inc. upped their target price on shares of Chemours from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, April 18th. Barclays PLC upped their target price on shares of Chemours from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, May 9th. Zacks Investment Research cut shares of Chemours from a “hold” rating to a “sell” rating in a research note on Monday, April 4th. Jefferies Group reissued a “hold” rating on shares of Chemours in a research note on Wednesday, April 13th. Finally, Vetr cut shares of Chemours from a “hold” rating to a “sell” rating and set a $7.56 target price on the stock. in a research note on Wednesday, June 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Chemours has a consensus rating of “Hold” and an average target price of $9.72.
The firm’s 50-day moving average is $8.67 and its 200 day moving average is $7.41. The firm’s market cap is $1.60 billion.
In other news, CFO Mark Newman bought 2,800 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were purchased at an average cost of $9.71 per share, with a total value of $27,188.00. Following the acquisition, the chief financial officer now directly owns 108,533 shares in the company, valued at $1,053,855.43. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bradley J. Bell bought 10,000 shares of the firm’s stock in a transaction on Wednesday, May 4th. The stock was purchased at an average cost of $9.65 per share, for a total transaction of $96,500.00. Following the completion of the acquisition, the director now owns 21,747 shares in the company, valued at $209,858.55. The disclosure for this purchase can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its position in Chemours by 9.1% in the fourth quarter. Brown Advisory Inc. now owns 246,270 shares of the company’s stock valued at $1,320,000 after buying an additional 20,561 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Chemours by 54.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 277,881 shares of the company’s stock valued at $1,489,000 after buying an additional 97,430 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Chemours by 6.8% in the fourth quarter. State of Wisconsin Investment Board now owns 402,390 shares of the company’s stock valued at $2,157,000 after buying an additional 25,620 shares during the period. First Trust Advisors LP bought a new stake in shares of Chemours during the fourth quarter valued at about $4,266,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of 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 valued at $4,824,000 after buying an additional 850,000 shares during the period.
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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