Choate Investment Advisors Reduces Position in Chase Co. (CCF)
Choate Investment Advisors reduced its position in shares of Chase Co. (NYSEMKT:CCF) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 235,560 shares of the construction company’s stock after selling 2,000 shares during the period. Chase makes up about 1.4% of Choate Investment Advisors’ portfolio, making the stock its 13th biggest holding. Choate Investment Advisors owned approximately 2.54% of Chase worth $25,134,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC raised its holdings in Chase by 1.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 33,228 shares of the construction company’s stock valued at $3,545,000 after acquiring an additional 438 shares in the last quarter. Teachers Advisors LLC raised its holdings in Chase by 0.6% in the 2nd quarter. Teachers Advisors LLC now owns 13,307 shares of the construction company’s stock valued at $1,420,000 after acquiring an additional 80 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Chase by 3.4% in the 2nd quarter. Alliancebernstein L.P. now owns 9,200 shares of the construction company’s stock valued at $982,000 after acquiring an additional 300 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Chase by 1.1% in the 2nd quarter. Wells Fargo & Company MN now owns 5,938 shares of the construction company’s stock valued at $634,000 after acquiring an additional 62 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new position in Chase in the 2nd quarter valued at $1,784,000.
In other Chase news, Director George M. Hughes sold 500 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $109.46, for a total transaction of $54,730.00. Following the sale, the director now owns 1,899 shares in the company, valued at $207,864.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 950 shares of company stock worth $97,765.
Separately, BidaskClub raised Chase from a “sell” rating to a “hold” rating in a report on Tuesday.
Shares of Chase Co. (CCF) traded down 0.90% during trading on Friday, reaching $98.70. The company’s stock had a trading volume of 46,370 shares. Chase Co. has a 52-week low of $61.75 and a 52-week high of $116.15. The stock has a market cap of $913.76 million, a P/E ratio of 22.44 and a beta of 1.64. The stock has a 50-day moving average of $97.29 and a 200-day moving average of $101.02.
Chase (NYSEMKT:CCF) last posted its earnings results on Wednesday, July 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter. The firm had revenue of $64.90 million for the quarter. Chase had a return on equity of 24.60% and a net margin of 18.27%. Analysts predict that Chase Co. will post $1.91 earnings per share for the current fiscal year.
Chase Corporation is engaged in manufacturing of protective materials for reliability applications. The Company’s operating segments include industrial materials segment and construction materials segment. The Industrial Materials segment includes specified products that are used in, or integrated into, another company’s product, with demand typically dependent upon general economic conditions.
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