Fjarde AP Fonden Fourth Swedish National Pension Fund Has $2.93 Million Stake in Chemours Co (CC)

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Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in Chemours Co (NYSE:CC) by 8.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 66,032 shares of the specialty chemicals company’s stock after selling 6,151 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Chemours were worth $2,929,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James & Associates boosted its holdings in Chemours by 12.2% in the fourth quarter. Raymond James & Associates now owns 102,290 shares of the specialty chemicals company’s stock valued at $5,121,000 after purchasing an additional 11,158 shares during the last quarter. Elkfork Partners LLC purchased a new position in Chemours in the fourth quarter valued at about $7,479,000. Xact Kapitalforvaltning AB purchased a new position in Chemours in the fourth quarter valued at about $1,967,000. Advisor Group Inc. boosted its holdings in Chemours by 14.2% in the fourth quarter. Advisor Group Inc. now owns 10,425 shares of the specialty chemicals company’s stock valued at $523,000 after purchasing an additional 1,295 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Chemours by 12.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,439 shares of the specialty chemicals company’s stock valued at $673,000 after purchasing an additional 1,479 shares during the last quarter. 77.40% of the stock is owned by institutional investors.

Chemours opened at $45.23 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 4.13, a quick ratio of 1.60 and a current ratio of 2.21. Chemours Co has a 52 week low of $42.75 and a 52 week high of $58.08. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.52 and a beta of 2.93.

Chemours (NYSE:CC) last released its earnings results on Thursday, May 3rd. The specialty chemicals company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.19. Chemours had a return on equity of 107.89% and a net margin of 13.79%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the business posted $0.75 EPS. Chemours’s quarterly revenue was up 20.4% compared to the same quarter last year. research analysts forecast that Chemours Co will post 5.69 earnings per share for the current fiscal year.

In other Chemours news, CFO Mark Newman sold 43,675 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $50.04, for a total transaction of $2,185,497.00. Following the transaction, the chief financial officer now owns 125,399 shares of the company’s stock, valued at approximately $6,274,965.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark P. Vergnano sold 200,151 shares of the stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $50.47, for a total value of $10,101,620.97. Following the transaction, the insider now directly owns 394,299 shares in the company, valued at approximately $19,900,270.53. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.

A number of brokerages recently commented on CC. Royal Bank of Canada began coverage on Chemours in a report on Wednesday. They issued an “outperform” rating and a $60.00 price target for the company. Morgan Stanley reduced their price target on Chemours from $57.50 to $48.00 and set a “hold” rating for the company in a report on Tuesday, July 17th. Citigroup reduced their price target on Chemours from $69.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, July 11th. ValuEngine downgraded Chemours from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Finally, Zacks Investment Research downgraded Chemours from a “strong-buy” rating to a “hold” rating in a report on Monday, July 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $59.27.

About Chemours

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.

See Also: Understanding Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding CC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chemours Co (NYSE:CC).

Institutional Ownership by Quarter for Chemours (NYSE:CC)

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