Sei Investments Co. Buys 33,809 Shares of The Chemours Company $CC

Sei Investments Co. lifted its stake in The Chemours Company (NYSE:CC) by 13.0% in the first quarter, HoldingsChannel.com reports. The firm owned 293,439 shares of the specialty chemicals company’s stock after purchasing an additional 33,809 shares during the quarter. Sei Investments Co.’s holdings in Chemours were worth $6,464,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. First Citizens Bank & Trust Co. acquired a new position in Chemours during the 1st quarter worth $811,000. Parallel Advisors LLC increased its stake in shares of Chemours by 10.9% in the 1st quarter. Parallel Advisors LLC now owns 5,366 shares of the specialty chemicals company’s stock valued at $118,000 after buying an additional 527 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Chemours during the first quarter worth $3,745,000. Atlas Wealth LLC acquired a new position in shares of Chemours during the first quarter valued at $535,000. Finally, D.A. Davidson & CO. acquired a new position in shares of Chemours during the first quarter valued at $306,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CC. JPMorgan Chase & Co. lifted their price objective on Chemours from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. Mizuho cut their target price on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Alembic Global Advisors reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Chemours in a research note on Wednesday, May 13th. Morgan Stanley lifted their price target on shares of Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, UBS Group boosted their price target on shares of Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.10.

Chemours Stock Up 3.3%

Shares of Chemours stock opened at $17.16 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The Chemours Company has a 12 month low of $10.44 and a 12 month high of $28.67. The business has a fifty day simple moving average of $19.75 and a 200 day simple moving average of $20.04. The stock has a market cap of $2.58 billion, a PE ratio of -6.50 and a beta of 1.43.

Chemours (NYSE:CC) last released its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts predict that The Chemours Company will post 1.18 EPS for the current year.

Chemours Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.