AMP Capital Investors Ltd raised its position in shares of Chemours Co (NYSE:CC) by 58.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,103 shares of the specialty chemicals company’s stock after purchasing an additional 62,672 shares during the period. AMP Capital Investors Ltd owned about 0.10% of Chemours worth $7,546,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Iridian Asset Management LLC CT purchased a new position in shares of Chemours in the 1st quarter valued at $221,537,000. LSV Asset Management increased its holdings in shares of Chemours by 588.7% in the 2nd quarter. LSV Asset Management now owns 1,607,336 shares of the specialty chemicals company’s stock valued at $71,301,000 after acquiring an additional 1,373,936 shares during the period. FMR LLC increased its holdings in shares of Chemours by 5.8% in the 2nd quarter. FMR LLC now owns 23,927,129 shares of the specialty chemicals company’s stock valued at $1,061,408,000 after acquiring an additional 1,321,767 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Chemours by 153.7% in the 1st quarter. Point72 Asset Management L.P. now owns 1,633,884 shares of the specialty chemicals company’s stock valued at $79,586,000 after acquiring an additional 989,926 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Chemours by 201.1% in the 1st quarter. Millennium Management LLC now owns 1,370,449 shares of the specialty chemicals company’s stock valued at $66,755,000 after acquiring an additional 915,367 shares during the period. 76.73% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on CC shares. Royal Bank of Canada started coverage on Chemours in a report on Wednesday, July 18th. They issued an “outperform” rating and a $60.00 price target on the stock. ValuEngine downgraded Chemours from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Zacks Investment Research downgraded Chemours from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 9th. SunTrust Banks started coverage on Chemours in a research note on Tuesday, July 31st. They set a “hold” rating and a $51.00 target price on the stock. Finally, Citigroup dropped their target price on Chemours from $69.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Chemours currently has an average rating of “Hold” and a consensus target price of $59.10.
Shares of CC stock opened at $39.83 on Friday. The stock has a market capitalization of $7.31 billion, a PE ratio of 10.43, a P/E/G ratio of 0.46 and a beta of 2.73. The company has a quick ratio of 1.47, a current ratio of 2.09 and a debt-to-equity ratio of 3.86. Chemours Co has a 52-week low of $38.49 and a 52-week high of $58.08.
Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, August 2nd. The specialty chemicals company reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.18. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Chemours had a return on equity of 107.22% and a net margin of 15.11%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. equities research analysts expect that Chemours Co will post 5.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 17th will be issued a $0.25 dividend. This is a boost from Chemours’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. Chemours’s dividend payout ratio is presently 26.18%.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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