The Vanguard Group, Inc. recently announced the acquisition of new stake in The Chemours Company (NYSE:CC). The institutional investor has increased its shareholding in the Basic Materials company by 1.94% to 15.54 million shares with purchase of 0.3 million shares. This fresh investment now brings its stake to 9.46% valued currently at $287.89 million. In addition, Sessa Capital IM LP raised its holdings by 0.74 million to 10.82 million shares. And Miller Value Partners LLC has lifted its position by 45.12% or 1.27 million shares – to 4.09 million shares.
With over 1.34 million The Chemours Company (CC) shares trading Tuesday and a closing price of $21.73 on the day, the dollar volume was approximately $29.13 million. The shares have shown a positive weekly performance of 5.59% and its price on 09/01/20 gained nearly 5.18%. Currently, there are 164.65M common shares owned by the public and among those 162.67M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for CC have a consensus price objective of $19.40. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the The Chemours Company stock is 2.70 for the next 12 months. The average price target is -13.3% below its last price level and a downside to the estimated low will see the stock lose -81.08% over that period. But an upside of 13.08% will see the stock hit the forecast high price target while mean target price for the stock is $19.50.
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 619,844 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 309,447 shares.
The top 3 mutual fund holders in The Chemours Company are Vanguard Total Stock Market Index, Fidelity Blue Chip Growth Fund, and iShares Core S&P Mid Cap ETF. Vanguard Total Stock Market Index owns 4.66 million shares of the company’s stock, all valued at over $86.39 million. The company sold 50368.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. Fidelity Blue Chip Growth Fund sold -0.23 million shares to see its total holdings shrink to 4.48 million shares valued at over $82.96 million and representing 2.73% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 32651.0 shares to bring its total holdings to over 4.35 million shares at a value of $80.67 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.65% of the shares outstanding.
Shares of The Chemours Company (NYSE: CC) opened at $20.60, down -$0.06 from a prior closing price of $20.66. However, the script later closed the day at $21.73, up 5.18%. The company’s stock has a 5-day price change of 5.59% and 46.82% over the past three months. CC shares are trading 20.12% year to date (YTD), with the 12-month market performance up to 62.77% higher. It has a 12-month low price of $7.02 and touched a high of $21.84 over the same period. Currently, 1.34 million shares have been traded, compared to an average intraday trading volume of 1.70 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.26%, 20.01%, and 43.26% respectively.
Institutional ownership of The Chemours Company (NYSE: CC) shares accounts for 79.40% of the company’s 164.65M shares outstanding. Mutual fund holders own 32.87%, while other institutional holders and individual stakeholders account for 45.71% and 1.47% respectively.
It has a market capitalization of $3.49B and a beta (3y monthly) value of 2.46. The earnings-per-share (ttm) stands at -$0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.83% over the week and 3.60% over the month.
Analysts forecast that The Chemours Company (CC) will achieve an EPS of $0.31 for the current quarter, $0.36 for the next quarter and $2.28 for 2021. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $0.42. Comparatively, EPS for the current quarter was $0.59 a year ago. Earnings per share for the fiscal year are expected to decrease by -105.80%, and 44.14% over the next financial year. EPS should grow at an annualized rate of 11.80% over the next five years, compared to -16.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate The Chemours Company (CC) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 8 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CC, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on March 23, 2020, with the firm’s price target at. CFRA coverage for the The Chemours Company (CC) stock in a research note released on February 14, 2020 offered a Strong Buy rating with a price target of. CFRA was of a view on November 06, 2019 that the stock is Buy, while Susquehanna gave the stock Positive rating on August 20, 2019, issuing a price target of $37- $18. RBC Capital Mkts on their part issued Sector Perform rating on August 09, 2019.