SouthState Corp Invests $110,000 in The Chemours Company (NYSE:CC)

SouthState Corp acquired a new position in shares of The Chemours Company (NYSE:CCGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,500 shares of the specialty chemicals company’s stock, valued at approximately $110,000.

Several other hedge funds have also made changes to their positions in the business. National Bank of Canada FI boosted its holdings in shares of Chemours by 7.4% during the first quarter. National Bank of Canada FI now owns 99,719 shares of the specialty chemicals company’s stock worth $3,141,000 after purchasing an additional 6,858 shares during the last quarter. Capital Advisors Inc. OK acquired a new stake in shares of Chemours during the first quarter worth $208,000. New York State Common Retirement Fund boosted its holdings in shares of Chemours by 5.9% during the first quarter. New York State Common Retirement Fund now owns 269,598 shares of the specialty chemicals company’s stock worth $8,487,000 after purchasing an additional 15,121 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Chemours by 17.7% during the first quarter. Russell Investments Group Ltd. now owns 152,714 shares of the specialty chemicals company’s stock worth $4,805,000 after purchasing an additional 22,935 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its holdings in shares of Chemours by 6.3% during the first quarter. Advisor Group Holdings Inc. now owns 57,436 shares of the specialty chemicals company’s stock worth $1,746,000 after purchasing an additional 3,409 shares during the last quarter. Institutional investors and hedge funds own 76.38% of the company’s stock.

Chemours Trading Down 1.3 %

NYSE:CC opened at $34.49 on Friday. The business’s 50-day moving average is $34.93 and its two-hundred day moving average is $33.71. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.91 and a quick ratio of 1.27. The Chemours Company has a 12 month low of $22.56 and a 12 month high of $44.95. The firm has a market capitalization of $5.35 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 0.44 and a beta of 1.82.

Chemours (NYSE:CCGet Rating) last announced its earnings results on Thursday, July 28th. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. Chemours had a return on equity of 79.77% and a net margin of 12.72%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Research analysts predict that The Chemours Company will post 5.53 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Monday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, August 12th. Chemours’s payout ratio is 18.66%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CC. Bank of America cut Chemours from a “buy” rating to a “neutral” rating and reduced their target price for the company from $48.00 to $44.00 in a report on Tuesday, June 14th. Royal Bank of Canada lifted their target price on Chemours from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, August 1st. StockNews.com upgraded Chemours from a “buy” rating to a “strong-buy” rating in a report on Friday, July 29th. UBS Group lifted their target price on Chemours from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Finally, Citigroup raised their price objective on Chemours from $32.00 to $36.00 in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Chemours has a consensus rating of “Moderate Buy” and an average target price of $40.17.

Insider Transactions at Chemours

In other news, CFO Sameer Ralhan sold 20,175 shares of Chemours stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $40.01, for a total transaction of $807,201.75. Following the sale, the chief financial officer now directly owns 313,506 shares of the company’s stock, valued at $12,543,375.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Sameer Ralhan sold 20,175 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $40.01, for a total value of $807,201.75. Following the completion of the sale, the chief financial officer now directly owns 313,506 shares of the company’s stock, valued at $12,543,375.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edwin C. Sparks sold 22,142 shares of the business’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $43.59, for a total value of $965,169.78. Following the completion of the sale, the insider now directly owns 101,038 shares of the company’s stock, valued at $4,404,246.42. The disclosure for this sale can be found here. Corporate insiders own 3.04% of the company’s stock.

About Chemours

(Get Rating)

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, 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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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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