Prudential Financial Inc. increased its position in Chemours Co. (NYSE:CC) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 441,427 shares of the company’s stock after buying an additional 4,548 shares during the period. Prudential Financial Inc. owned 0.24% of Chemours worth $3,637,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services Inc boosted its stake in Chemours by 11.7% in the first quarter. Commonwealth Equity Services Inc now owns 42,795 shares of the company’s stock worth $300,000 after buying an additional 4,482 shares in the last quarter. Teachers Advisors Inc. boosted its stake in Chemours by 9.5% in the first quarter. Teachers Advisors Inc. now owns 171,001 shares of the company’s stock worth $1,197,000 after buying an additional 14,837 shares in the last quarter. BlackRock Fund Advisors raised its position in Chemours by 52.9% in the first quarter. BlackRock Fund Advisors now owns 8,170,493 shares of the company’s stock worth $57,193,000 after buying an additional 2,825,161 shares in the last quarter. JPMorgan Chase & Co. raised its position in Chemours by 6,564.4% in the first quarter. JPMorgan Chase & Co. now owns 342,018 shares of the company’s stock worth $2,395,000 after buying an additional 336,886 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in Chemours by 488.1% in the first quarter. OMERS ADMINISTRATION Corp now owns 128,200 shares of the company’s stock worth $897,000 after buying an additional 106,400 shares in the last quarter. Institutional investors own 76.59% of the company’s stock.
Shares of Chemours Co. (NYSE:CC) opened at 15.86 on Wednesday. Chemours Co. has a one year low of $3.06 and a one year high of $16.32. The company’s 50 day moving average is $14.59 and its 200 day moving average is $10.65. The company’s market capitalization is $2.88 billion.
Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.10. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.42 billion. Chemours had a negative net margin of 1.48% and a positive return on equity of 95.01%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS. Equities research analysts predict that Chemours Co. will post $0.92 earnings per share for the current year.
A number of equities analysts recently commented on CC shares. Jefferies Group raised their price target on shares of Chemours from $10.00 to $15.00 and gave the stock a “hold” rating in a research report on Thursday, September 1st. Argus raised shares of Chemours from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Wednesday, August 10th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Chemours from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a report on Wednesday, August 17th. Citigroup Inc. decreased their target price on shares of Chemours from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 11th. Finally, TheStreet raised shares of Chemours from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.94.
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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