Virtu Financial LLC Invests $245,000 in The Chemours Company (NYSE:CC)

Aug 06, 2023

Virtu Financial LLC purchased a new position in The Chemours Company (NYSE:CC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,170 shares of the specialty chemicals company's stock, valued at approximately $245,000.

Several other large investors have also recently modified their holdings of CC. Ameritas Advisory Services LLC purchased a new position in shares of Chemours in the 1st quarter worth about $29,000. Lindbrook Capital LLC raised its position in shares of Chemours by 117.3% in the 4th quarter. Lindbrook Capital LLC now owns 969 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 523 shares during the last quarter. Tanglewood Legacy Advisors LLC purchased a new position in Chemours in the 4th quarter worth about $41,000. GPS Wealth Strategies Group LLC bought a new position in Chemours during the 1st quarter valued at about $47,000. Finally, Vigilant Capital Management LLC bought a new position in Chemours during the 1st quarter valued at about $54,000. Hedge funds and other institutional investors own 70.80% of the company's stock.

Several research firms have issued reports on CC. Credit Suisse Group lowered their target price on shares of Chemours from $27.00 to $25.00 in a research note on Friday, April 28th. StockNews.com cut shares of Chemours from a "buy" rating to a "hold" rating in a research note on Saturday, May 20th. Morgan Stanley restated an "equal weight" rating and set a $33.00 target price on shares of Chemours in a research note on Wednesday, July 19th. BMO Capital Markets increased their price objective on shares of Chemours from $54.00 to $64.00 in a research note on Monday, June 5th. Finally, Barclays increased their price objective on shares of Chemours from $38.00 to $40.00 in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.11.

In related news, CEO Mark Newman purchased 7,661 shares of the company's stock in a transaction that occurred on Friday, June 9th. The stock was bought at an average price of $34.63 per share, for a total transaction of $265,300.43. Following the completion of the transaction, the chief executive officer now owns 266,955 shares in the company, valued at approximately $9,244,651.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Matthew S. Abbott sold 8,912 shares of the business's stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $34.20, for a total value of $304,790.40. Following the completion of the sale, the senior vice president now owns 29,869 shares in the company, valued at $1,021,519.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Newman purchased 7,661 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was purchased at an average price of $34.63 per share, with a total value of $265,300.43. Following the acquisition, the chief executive officer now directly owns 266,955 shares of the company's stock, valued at approximately $9,244,651.65. The disclosure for this purchase can be found here. 1.63% of the stock is currently owned by company insiders.

CC stock opened at $38.41 on Thursday. The firm has a market cap of $5.73 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.46 and a beta of 1.96. The firm has a fifty day moving average price of $33.72 and a 200 day moving average price of $32.43. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.98 and a current ratio of 1.84. The Chemours Company has a fifty-two week low of $23.58 and a fifty-two week high of $39.05.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings results on Friday, April 28th. The specialty chemicals company reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.36. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.46 billion. Chemours had a net margin of 7.45% and a return on equity of 53.44%. The firm's revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. Sell-side analysts anticipate that The Chemours Company will post 3.85 earnings per share for the current fiscal year.

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.

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