Rhumbline Advisers cut its position in shares of The Chemours Company (NYSE:CC – Free Report) by 0.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 501,401 shares of the specialty chemicals company’s stock after selling 943 shares during the quarter. Rhumbline Advisers owned 0.34% of Chemours worth $15,012,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in CC. BlackRock Inc. lifted its position in shares of Chemours by 29.0% in the first quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company’s stock worth $569,023,000 after purchasing an additional 4,060,250 shares in the last quarter. Norges Bank purchased a new stake in shares of Chemours in the fourth quarter worth approximately $47,013,000. JPMorgan Chase & Co. lifted its position in shares of Chemours by 68.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,885,061 shares of the specialty chemicals company’s stock worth $88,340,000 after purchasing an additional 1,174,536 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in Chemours by 1,845.6% in the third quarter. Balyasny Asset Management LLC now owns 997,478 shares of the specialty chemicals company’s stock worth $24,588,000 after buying an additional 946,210 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Chemours by 5.5% in the third quarter. Vanguard Group Inc. now owns 17,741,300 shares of the specialty chemicals company’s stock worth $437,324,000 after buying an additional 932,063 shares during the last quarter. 76.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on CC shares. Barclays increased their price objective on Chemours from $38.00 to $40.00 in a report on Tuesday, July 11th. TheStreet downgraded Chemours from a “b” rating to a “c+” rating in a report on Friday, July 28th. BMO Capital Markets dropped their price objective on Chemours from $64.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. UBS Group increased their price target on Chemours from $41.00 to $43.00 in a report on Tuesday, June 13th. Finally, StockNews.com began coverage on Chemours in a report on Thursday, August 17th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.22.
Insider Buying and Selling
In related news, SVP Matthew S. Abbott sold 8,912 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $34.20, for a total value of $304,790.40. Following the completion of the transaction, the senior vice president now directly owns 29,869 shares of the company’s stock, valued at $1,021,519.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Mark Newman acquired 7,661 shares of the business’s stock in a transaction on Friday, June 9th. The stock was bought at an average cost of $34.63 per share, with a total value of $265,300.43. Following the completion of the acquisition, the chief executive officer now owns 266,955 shares in the company, valued at $9,244,651.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Matthew S. Abbott sold 8,912 shares of Chemours stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $34.20, for a total value of $304,790.40. Following the transaction, the senior vice president now directly owns 29,869 shares of the company’s stock, valued at $1,021,519.80. The disclosure for this sale can be found here. 1.63% of the stock is owned by company insiders.
Chemours Stock Up 0.1 %
CC opened at $34.02 on Friday. The Chemours Company has a 1-year low of $23.58 and a 1-year high of $39.05. The company has a current ratio of 1.54, a quick ratio of 0.88 and a debt-to-equity ratio of 4.45. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of -50.03, a P/E/G ratio of 1.29 and a beta of 1.96. The business has a 50 day moving average of $35.80 and a 200-day moving average of $32.57.
Chemours (NYSE:CC – Get Free Report) last issued its earnings results on Friday, July 28th. The specialty chemicals company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Chemours had a positive return on equity of 46.14% and a negative net margin of 1.40%. During the same period last year, the business earned $1.89 earnings per share. As a group, sell-side analysts anticipate that The Chemours Company will post 3.38 earnings per share for the current year.
Chemours Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a $0.25 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.00 annualized dividend and a yield of 2.94%. Chemours’s dividend payout ratio (DPR) is currently -147.06%.
Chemours 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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, 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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