Geode Capital Management LLC reduced its position in shares of Chemours Co (NYSE:CC) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,502,935 shares of the specialty chemicals company’s stock after selling 41,590 shares during the period. Geode Capital Management LLC owned about 0.81% of Chemours worth $75,188,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. increased its position in Chemours by 15.2% in the fourth quarter. BlackRock Inc. now owns 17,619,233 shares of the specialty chemicals company’s stock worth $882,018,000 after buying an additional 2,323,538 shares during the period. Ardevora Asset Management LLP acquired a new stake in Chemours in the third quarter worth $40,351,000. Capital Growth Management LP acquired a new stake in Chemours in the third quarter worth $38,970,000. Columbus Circle Investors increased its position in Chemours by 173.2% in the third quarter. Columbus Circle Investors now owns 1,022,466 shares of the specialty chemicals company’s stock worth $51,747,000 after buying an additional 648,200 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Chemours by 883.8% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 419,772 shares of the specialty chemicals company’s stock worth $21,245,000 after buying an additional 377,103 shares during the period. 77.83% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Paul Kirsch sold 13,770 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $50.01, for a total value of $688,637.70. Following the completion of the transaction, the insider now owns 63,093 shares of the company’s stock, valued at $3,155,280.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark Newman sold 29,381 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $49.19, for a total value of $1,445,251.39. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.
Chemours Co (NYSE CC) opened at $49.98 on Wednesday. Chemours Co has a 52 week low of $32.31 and a 52 week high of $58.08. The stock has a market capitalization of $9,299.60, a price-to-earnings ratio of 12.96, a PEG ratio of 0.62 and a beta of 3.03. The company has a quick ratio of 1.55, a current ratio of 2.12 and a debt-to-equity ratio of 4.74.
Chemours (NYSE:CC) last released its quarterly earnings results on Wednesday, February 14th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. research analysts expect that Chemours Co will post 5.3 EPS for the current year.
Chemours declared that its board has initiated a stock buyback program on Friday, December 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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Chemours Company 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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