Axa S.A. lifted its holdings in shares of The Chemours Company (NYSE:CC – Get Rating) by 37.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,177 shares of the specialty chemicals company’s stock after acquiring an additional 8,000 shares during the period. Axa S.A.’s holdings in Chemours were worth $719,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Chemours in the 3rd quarter valued at approximately $703,000. Aviva PLC raised its holdings in shares of Chemours by 140.1% in the third quarter. Aviva PLC now owns 72,716 shares of the specialty chemicals company’s stock worth $1,792,000 after acquiring an additional 42,433 shares during the last quarter. SIR Capital Management L.P. raised its holdings in shares of Chemours by 494.2% in the third quarter. SIR Capital Management L.P. now owns 349,382 shares of the specialty chemicals company’s stock worth $8,612,000 after acquiring an additional 290,582 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of Chemours in the third quarter valued at $269,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Chemours by 15.2% in the third quarter. Envestnet Asset Management Inc. now owns 17,985 shares of the specialty chemicals company’s stock valued at $443,000 after purchasing an additional 2,367 shares during the period. Hedge funds and other institutional investors own 71.89% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on CC. Credit Suisse Group boosted their price target on Chemours from $24.00 to $27.00 and gave the company an “underperform” rating in a research report on Friday, February 10th. Barclays upped their target price on Chemours from $30.00 to $34.00 in a research report on Tuesday, November 1st. UBS Group raised Chemours from a “neutral” rating to a “buy” rating and upped their target price for the stock from $31.00 to $43.00 in a research report on Tuesday, January 24th. The Goldman Sachs Group upped their target price on Chemours from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 14th. Finally, Bank of America upgraded Chemours from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $40.00 in a research note on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.33.
Chemours Stock Performance
Chemours Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, February 24th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, February 23rd. Chemours’s payout ratio is currently 28.01%.
About Chemours
The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.
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