Chemours Co (CC) Director Buys $286,000.00 in Stock
Chemours Co (NYSE:CC) Director Richard H. Brown bought 10,000 shares of the stock in a transaction dated Monday, December 3rd. The stock was purchased at an average cost of $28.60 per share, for a total transaction of $286,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
CC stock opened at $26.88 on Friday. The stock has a market cap of $4.64 billion, a P/E ratio of 4.68, a P/E/G ratio of 0.31 and a beta of 2.68. Chemours Co has a 52 week low of $25.22 and a 52 week high of $54.62. The company has a current ratio of 2.03, a quick ratio of 1.39 and a debt-to-equity ratio of 3.48.
Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.07. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.71 billion. Chemours had a net margin of 16.02% and a return on equity of 106.98%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. On average, equities analysts predict that Chemours Co will post 5.69 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in CC. Trilogy Capital Inc. purchased a new stake in shares of Chemours in the third quarter valued at about $179,000. Point72 Hong Kong Ltd lifted its holdings in shares of Chemours by 1,510.8% in the third quarter. Point72 Hong Kong Ltd now owns 4,639 shares of the specialty chemicals company’s stock valued at $183,000 after purchasing an additional 4,351 shares in the last quarter. Gideon Capital Advisors Inc. purchased a new stake in shares of Chemours in the second quarter valued at about $209,000. Signition LP purchased a new stake in shares of Chemours in the third quarter valued at about $232,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Chemours in the second quarter valued at about $247,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on CC shares. Susquehanna Bancshares lowered their target price on shares of Chemours from $65.00 to $44.00 and set a “positive” rating on the stock in a report on Monday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Chemours in a report on Thursday, September 13th. Zacks Investment Research downgraded shares of Chemours from a “hold” rating to a “strong sell” rating in a report on Thursday, October 11th. Citigroup lowered their target price on shares of Chemours from $61.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Finally, ValuEngine downgraded shares of Chemours from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $50.63.
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Chemours Company Profile
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.
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