ARGA Investment Management LP Purchases 1,032 Shares of The Chemours Company (NYSE:CC)

ARGA Investment Management LP grew its stake in shares of The Chemours Company (NYSE:CC) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,614 shares of the specialty chemicals company’s stock after purchasing an additional 1,032 shares during the quarter. ARGA Investment Management LP owned approximately 0.10% of Chemours worth $2,512,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CC. Matrix Trust Co bought a new stake in Chemours during the 3rd quarter valued at about $25,000. Blue Trust Inc. increased its position 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 acquiring an additional 731 shares during the period. GAMMA Investing LLC raised its stake in shares of Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 765 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Chemours during the third quarter valued at approximately $35,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Chemours in the third quarter valued at approximately $37,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Stock Up 3.9 %

NYSE:CC opened at $18.74 on Wednesday. The company’s 50-day simple moving average is $18.95 and its 200-day simple moving average is $19.35. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $31.76. The stock has a market capitalization of $2.80 billion, a P/E ratio of 37.47 and a beta of 1.81.

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

Insider Activity

In other news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

CC has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Morgan Stanley decreased their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group lowered their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Mizuho cut their target price on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Truist Financial began coverage on shares of Chemours in a research report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.11.

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.