Rafferty Asset Management LLC Has $995,000 Holding in Chemours Co (CC)

Rafferty Asset Management LLC Has $995,000 Holding in Chemours Co (CC)

Rafferty Asset Management LLC reduced its position in shares of Chemours Co (NYSE:CC) by 8.8% during the first quarter, Holdings Channel reports. The firm owned 25,851 shares of the specialty chemicals company’s stock after selling 2,495 shares during the period. Rafferty Asset Management LLC’s holdings in Chemours were worth $995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Nationwide Fund Advisors increased its position in Chemours by 262.6% in the first quarter. Nationwide Fund Advisors now owns 413,027 shares of the specialty chemicals company’s stock valued at $15,902,000 after buying an additional 299,121 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Chemours by 349.0% in the first quarter. Ameritas Investment Partners Inc. now owns 69,460 shares of the specialty chemicals company’s stock valued at $2,674,000 after buying an additional 53,991 shares during the last quarter. Norges Bank purchased a new position in Chemours during the fourth quarter valued at $196,709,000. Dimensional Fund Advisors LP increased its position in Chemours by 51.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 491,439 shares of the specialty chemicals company’s stock valued at $10,856,000 after buying an additional 167,183 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in Chemours by 60.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,325 shares of the specialty chemicals company’s stock valued at $974,000 after buying an additional 9,549 shares during the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Chemours Co (NYSE:CC) traded down 0.84% during mid-day trading on Friday, hitting $41.16. The company’s stock had a trading volume of 2,276,752 shares. The stock has a market cap of $7.59 billion, a P/E ratio of 71.96 and a beta of 3.50. The company’s 50 day moving average is $40.68 and its 200-day moving average is $31.66. Chemours Co has a 52-week low of $5.82 and a 52-week high of $46.02.

Chemours (NYSE:CC) last announced its quarterly earnings data on Monday, May 1st. The specialty chemicals company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.25. Chemours had a return on equity of 81.19% and a net margin of 2.78%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.06 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, equities analysts predict that Chemours Co will post $3.26 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 17th will be given a $0.03 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.29%. Chemours’s payout ratio is 14.81%.

A number of brokerages recently issued reports on CC. ValuEngine raised Chemours from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised Chemours from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a report on Thursday, February 16th. Jefferies Group LLC increased their price objective on Chemours from $25.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday, February 15th. Goldman Sachs Group Inc raised Chemours from a “neutral” rating to a “buy” rating in a report on Monday, February 13th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares Inc raised Chemours from a “neutral” rating to a “positive” rating and set a $40.00 price objective on the stock in a report on Friday, February 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Chemours currently has a consensus rating of “Buy” and a consensus price target of $37.70.

In other news, Director Richard H. Brown bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average cost of $39.10 per share, for a total transaction of $97,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark Newman sold 22,781 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $39.83, for a total value of $907,367.23. The disclosure for this sale can be found here. 0.78% of the stock is owned by insiders.

About Chemours

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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