Advisors Asset Management Inc. grew its holdings in shares of Chemours Co (NYSE:CC) by 120.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 303,272 shares of the specialty chemicals company’s stock after acquiring an additional 165,775 shares during the period. Advisors Asset Management Inc. owned about 0.19% of Chemours worth $5,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of CC. First Trust Advisors LP grew its position in shares of Chemours by 40.1% during the 1st quarter. First Trust Advisors LP now owns 117,670 shares of the specialty chemicals company’s stock valued at $4,373,000 after acquiring an additional 33,696 shares during the period. Russell Investments Group Ltd. grew its position in shares of Chemours by 33.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 29,904 shares of the specialty chemicals company’s stock valued at $442,000 after acquiring an additional 7,576 shares during the period. Stifel Financial Corp grew its position in shares of Chemours by 9.4% during the 3rd quarter. Stifel Financial Corp now owns 18,504 shares of the specialty chemicals company’s stock valued at $267,000 after acquiring an additional 1,589 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Chemours by 117.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 625,674 shares of the specialty chemicals company’s stock valued at $9,348,000 after acquiring an additional 337,725 shares during the period. Finally, Man Group plc grew its position in shares of Chemours by 652.9% during the 3rd quarter. Man Group plc now owns 100,134 shares of the specialty chemicals company’s stock valued at $1,496,000 after acquiring an additional 86,834 shares during the period. 80.79% of the stock is owned by hedge funds and other institutional investors.
CC has been the topic of a number of analyst reports. Jefferies Financial Group cut shares of Chemours from a “buy” rating to a “hold” rating in a research note on Monday. SunTrust Banks lowered their target price on shares of Chemours from $19.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday. Zacks Investment Research cut shares of Chemours from a “hold” rating to a “sell” rating and set a $20.00 target price on the stock. in a research note on Wednesday, February 19th. ValuEngine upgraded shares of Chemours from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Chemours from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Chemours currently has an average rating of “Hold” and a consensus price target of $22.05.
In related news, insider E Bryan Snell purchased 11,000 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $10.15 per share, for a total transaction of $111,650.00. Following the purchase, the insider now directly owns 141,891 shares in the company, valued at $1,440,193.65. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard H. Brown purchased 7,500 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was bought at an average price of $14.06 per share, for a total transaction of $105,450.00. The disclosure for this purchase can be found here. 2.72% of the stock is owned by insiders.
Shares of CC stock opened at $10.89 on Thursday. The stock has a market cap of $1.35 billion, a P/E ratio of -30.25 and a beta of 2.21. Chemours Co has a 52 week low of $8.01 and a 52 week high of $41.60. The company has a quick ratio of 1.10, a current ratio of 1.80 and a debt-to-equity ratio of 6.15. The company’s fifty day simple moving average is $14.05 and its two-hundred day simple moving average is $15.79.
Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, February 13th. The specialty chemicals company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.42 by $0.14. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Chemours had a negative net margin of 0.92% and a positive return on equity of 52.65%. On average, analysts anticipate that Chemours Co will post 2.87 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Thursday, February 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.18%. The ex-dividend date was Wednesday, February 26th. Chemours’s payout ratio is currently 39.84%.
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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