EMC Capital Management Boosts Holdings in The Chemours Company (NYSE:CC)

EMC Capital Management boosted its stake in shares of The Chemours Company (NYSE:CC) by 74.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,534 shares of the specialty chemicals company’s stock after purchasing an additional 4,073 shares during the period. EMC Capital Management’s holdings in Chemours were worth $161,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CC. Appian Way Asset Management LP purchased a new stake in Chemours during the third quarter worth $34,151,000. Vision One Management Partners LP purchased a new stake in shares of Chemours during the 3rd quarter worth about $28,252,000. Scopia Capital Management LP acquired a new stake in shares of Chemours during the 3rd quarter valued at about $13,623,000. FMR LLC grew its position in shares of Chemours by 3.5% during the 3rd quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after acquiring an additional 618,361 shares during the period. Finally, Private Management Group Inc. increased its stake in shares of Chemours by 72.0% in the 3rd quarter. Private Management Group Inc. now owns 785,809 shares of the specialty chemicals company’s stock valued at $15,968,000 after purchasing an additional 329,037 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

Shares of NYSE CC opened at $19.34 on Friday. The firm has a 50-day simple moving average of $19.14 and a 200-day simple moving average of $19.54. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 38.67 and a beta of 1.83. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $31.76.

Chemours (NYSE:CC) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. Chemours’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, equities analysts predict that The Chemours Company will post 1.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CC. Morgan Stanley lowered their price target on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 target price on shares of Chemours in a research report on Thursday, December 12th. The Goldman Sachs Group cut their price target on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. BMO Capital Markets increased their price objective on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, Barclays boosted their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Chemours has an average rating of “Hold” and a consensus price target of $24.11.

Insider Activity at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.