Notable Price Action: Chase Corporation on Focus After Trading At 52-Week Highs

Notable Price Action: Chase Corporation on Focus After Trading At 52 Week Highs

The stock of Chase Corporation (NYSEMKT:CCF) hit a new 52-week high and has $97.09 target or 24.00% above today’s $78.30 share price. The 5 months bullish chart indicates low risk for the $755.61 million company. The 1-year high was reported on Nov, 21 by If the $97.09 price target is reached, the company will be worth $181.35 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 17,427 shares traded hands. Chase Corporation (NYSEMKT:CCF) has risen 35.16% since April 19, 2016 and is uptrending. It has outperformed by 31.30% the S&P500.

According to Zacks Investment Research, “CHASE CORP. manufactures insulating and semi-conducting electrical cable tape wrappings, cable filling compounds, anti-corrosion mastics, reinforced rubber and asphalt tapes and bridge deck corrosion barrier membranes. Co.’s principal products are protective coatings and tape products that are sold in national and international markets.”

Insitutional Activity: The institutional sentiment decreased to 1.77 in Q2 2016. Its down 0.06, from 1.83 in 2016Q1. The ratio dived, as 8 funds sold all Chase Corporation shares owned while 21 reduced positions. 18 funds bought stakes while 35 increased positions. They now own 4.67 million shares or 10.07% less from 5.19 million shares in 2016Q1.
Moreover, Fca Tx has 2.5% invested in Chase Corporation (NYSEMKT:CCF) for 83,013 shares. Goldman Sachs Group reported 6,687 shares or 0% of all its holdings. Credit Suisse Ag holds 6,193 shares or 0% of its portfolio. Teton Inc accumulated 111,122 shares or 0.59% of the stock. Federated Inc Pa last reported 78 shares in the company. Moreover, Manufacturers Life Ins Com The has 0% invested in Chase Corporation (NYSEMKT:CCF) for 5,104 shares. American Century Companies accumulated 80,694 shares or 0.01% of the stock. Swiss Financial Bank, a Switzerland-based fund reported 9,600 shares. Blackrock Investment Management Limited Co holds 0% of its portfolio in Chase Corporation (NYSEMKT:CCF) for 27,221 shares. The Massachusetts-based Rhumbline Advisers has invested 0% in Chase Corporation (NYSEMKT:CCF). The California-based Wcm Management Ca has invested 0.06% in Chase Corporation (NYSEMKT:CCF). Acadian Asset Mngmt Limited Liability Co has 3,379 shares for 0% of their US portfolio. Lsv Asset Mngmt holds 1,000 shares or 0% of its portfolio. Tower Capital Ltd Liability Co (Trc) holds 0% or 133 shares in its portfolio. Moreover, Bragg Fin has 0.12% invested in Chase Corporation (NYSEMKT:CCF) for 11,205 shares.

Insider Transactions: Since July 20, 2016, the stock had 0 insider buys, and 12 insider sales for $1.51 million net activity. Another trade for 1,000 shares valued at $62,250 was sold by HUGHES GEORGE M. 1,000 Chase Corporation (NYSEMKT:CCF) shares with value of $60,750 were sold by Chase Mary Claire. The insider WROE THOMAS JR sold $361,500. 8,000 Chase Corporation (NYSEMKT:CCF) shares with value of $583,425 were sold by CHASE PETER R.

CCF Company Profile

Chase Corporation (Chase), incorporated on March 1, 1988, is a maker of protective materials for high reliability applications. The Firm operates in two divisions: industrial materials segment and construction materials segment. The industrial materials segment represents its specified products, which are used in or integrated into another company’s product with demand dependent upon general economic conditions. The construction materials segment reflects its construction project oriented product offerings, which are primarily sold and used as Chase branded products in final form.

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