Redpoint Investment Management Pty Ltd lowered its position in shares of Chemours Co (NYSE:CC) by 9.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,015 shares of the specialty chemicals company’s stock after selling 8,885 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Chemours were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Chemours by 5.8% in the second quarter. FMR LLC now owns 23,927,129 shares of the specialty chemicals company’s stock worth $1,061,408,000 after buying an additional 1,321,767 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Chemours by 15.0% in the third quarter. Bank of Montreal Can now owns 141,454 shares of the specialty chemicals company’s stock worth $5,579,000 after buying an additional 18,502 shares in the last quarter. Polianta Ltd lifted its position in shares of Chemours by 17.7% in the third quarter. Polianta Ltd now owns 27,900 shares of the specialty chemicals company’s stock worth $1,100,000 after buying an additional 4,200 shares in the last quarter. Andra AP fonden lifted its position in shares of Chemours by 16.2% in the third quarter. Andra AP fonden now owns 131,300 shares of the specialty chemicals company’s stock worth $5,178,000 after buying an additional 18,300 shares in the last quarter. Finally, First American Bank purchased a new stake in shares of Chemours in the third quarter worth about $268,000. Institutional investors and hedge funds own 80.16% of the company’s stock.
Shares of NYSE CC opened at $36.89 on Tuesday. 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 Co has a 1-year low of $25.17 and a 1-year high of $53.25. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 0.43 and a beta of 2.32.
In related news, Director Richard H. Brown acquired 10,000 shares of Chemours stock in a transaction on Monday, December 3rd. The shares were bought at an average cost of $28.60 per share, with a total value of $286,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.75% of the company’s stock.
A number of research firms recently commented on CC. Citigroup upgraded Chemours from a “neutral” rating to a “buy” rating in a research report on Friday, January 4th. Barclays reiterated a “buy” rating and issued a $48.00 target price on shares of Chemours in a research report on Tuesday, January 15th. SunTrust Banks decreased their target price on Chemours to $38.00 and set a “hold” rating on the stock in a research report on Monday, November 5th. Zacks Investment Research upgraded Chemours from a “sell” rating to a “hold” rating in a research report on Tuesday, December 11th. Finally, HSBC began coverage on Chemours in a research report on Tuesday, January 8th. They issued a “buy” rating and a $52.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $49.22.
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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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