AMP Capital Investors Ltd Grows Position in Chemours Co (CC)

AMP Capital Investors Ltd lifted its position in Chemours Co (NYSE:CC) by 653.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,074 shares of the specialty chemicals company’s stock after acquiring an additional 41,693 shares during the period. AMP Capital Investors Ltd’s holdings in Chemours were worth $2,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CC. Strs Ohio acquired a new position in shares of Chemours in the 4th quarter valued at $116,000. Bell Bank acquired a new position in shares of Chemours in the 3rd quarter valued at $202,000. First Allied Advisory Services Inc. acquired a new position in shares of Chemours in the 3rd quarter valued at $202,000. First Republic Investment Management Inc. acquired a new position in shares of Chemours in the 3rd quarter valued at $203,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Chemours in the 4th quarter valued at $203,000. 77.78% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, VP Mark Newman sold 29,381 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $49.19, for a total transaction of $1,445,251.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Kirsch sold 13,770 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $50.01, for a total value of $688,637.70. Following the sale, the insider now owns 63,093 shares in the company, valued at $3,155,280.93. The disclosure for this sale can be found here. 1.14% of the stock is owned by company insiders.

Shares of Chemours Co (NYSE CC) opened at $48.65 on Friday. The firm has a market capitalization of $8,848.77, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.59 and a beta of 3.03. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.55 and a current ratio of 2.12. Chemours Co has a 12-month low of $32.96 and a 12-month high of $58.08.

Chemours (NYSE:CC) last posted its earnings results on Wednesday, February 14th. The specialty chemicals company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.24. Chemours had a return on equity of 115.54% and a net margin of 12.06%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm earned $0.08 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. equities analysts anticipate that Chemours Co will post 5.3 earnings per share for the current fiscal year.

Chemours announced that its board has approved a share buyback plan on Friday, December 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Several equities research analysts have weighed in on CC shares. Jefferies Group increased their price target on Chemours to $66.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research raised Chemours from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, February 21st. Morgan Stanley started coverage on Chemours in a research report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 price target on the stock. Goldman Sachs downgraded Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Wednesday, December 6th. Finally, Barclays reaffirmed a “buy” rating and set a $60.00 price target on shares of Chemours in a research report on Wednesday, December 6th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $57.95.

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Chemours Profile

The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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