ARGA Investment Management LP Raises Stock Holdings in The Chemours Company (NYSE:CC)

ARGA Investment Management LP raised its position in shares of The Chemours Company (NYSE:CC) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 148,614 shares of the specialty chemicals company’s stock after buying an additional 1,032 shares during the quarter. ARGA Investment Management LP’s holdings in Chemours were worth $2,512,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of CC. Blue Trust Inc. raised its holdings in shares of Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 731 shares during the last quarter. Matrix Trust Co acquired a new stake in Chemours during the 3rd quarter worth about $25,000. GAMMA Investing LLC raised its stake in shares of Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 765 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Chemours in the 3rd quarter valued at about $35,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Chemours in the third quarter worth about $37,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the sale, the senior vice president now directly owns 16,645 shares in the company, valued at $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Mizuho reduced their price target on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Chemours in a report on Thursday, December 12th. Truist Financial began coverage on shares of Chemours in a report on Tuesday, January 28th. They set a “buy” rating and a $27.00 price target on the stock. Morgan Stanley cut their price objective on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group lowered their target price on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Chemours has an average rating of “Hold” and a consensus target price of $24.11.

Chemours Stock Performance

CC opened at $18.74 on Wednesday. The firm’s fifty day simple moving average is $18.95 and its two-hundred day simple moving average is $19.35. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $31.76. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 37.47 and a beta of 1.81. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company posted $0.64 EPS. Chemours’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that The Chemours Company will post 1.21 earnings per share for the current fiscal year.

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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.