HBK Investments L P lifted its position in Chemours Co (NYSE:CC) by 31.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 310,706 shares of the specialty chemicals company’s stock after buying an additional 75,206 shares during the period. HBK Investments L P owned approximately 0.17% of Chemours worth $15,554,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Aurora Investment Counsel acquired a new stake in shares of Chemours during the fourth quarter worth $1,998,000. JPMorgan Chase & Co. raised its position in shares of Chemours by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 2,201,287 shares of the specialty chemicals company’s stock worth $110,969,000 after purchasing an additional 234,705 shares during the period. Wells Fargo & Company MN raised its position in shares of Chemours by 30.1% during the third quarter. Wells Fargo & Company MN now owns 266,263 shares of the specialty chemicals company’s stock worth $13,477,000 after purchasing an additional 61,618 shares during the period. Capital Growth Management LP acquired a new stake in shares of Chemours during the third quarter worth $38,970,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Chemours during the third quarter worth $3,325,000. 77.83% of the stock is currently owned by institutional investors.
CC has been the topic of a number of recent analyst reports. Goldman Sachs Group lowered Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Wednesday, December 6th. Zacks Investment Research downgraded Chemours from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Jefferies Group lifted their price target on Chemours to $66.00 and gave the company a “buy” rating in a report on Monday, December 4th. Morgan Stanley initiated coverage on Chemours in a report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 price target on the stock. Finally, Barclays reiterated a “buy” rating and set a $60.00 price target on shares of Chemours in a report on Wednesday, December 6th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $57.95.
Chemours Co (NYSE CC) opened at $50.95 on Tuesday. The company has a debt-to-equity ratio of 4.74, a current ratio of 2.12 and a quick ratio of 1.55. Chemours Co has a 52 week low of $32.31 and a 52 week high of $58.08. The company has a market capitalization of $9,137.16, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.61 and a beta of 3.03.
Chemours (NYSE:CC) last issued its earnings results on Wednesday, February 14th. The specialty chemicals company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company posted $0.08 earnings per share. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. equities research analysts forecast that Chemours Co will post 5.3 EPS for the current fiscal year.
Chemours announced that its board has initiated a stock repurchase program on Friday, December 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
COPYRIGHT VIOLATION NOTICE: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://www.americanbankingnews.com/2018/03/13/hbk-investments-l-p-boosts-stake-in-chemours-co-cc.html.
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.
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).
Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.