First Republic Investment Management Inc. bought a new stake in Chemours Co (NYSE:CC) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,316 shares of the specialty chemicals company’s stock, valued at approximately $272,000.
Several other hedge funds have also bought and sold shares of the stock. Cullen Frost Bankers Inc. bought a new stake in Chemours in the first quarter worth $26,000. Enterprise Financial Services Corp lifted its position in Chemours by 306.5% in the first quarter. Enterprise Financial Services Corp now owns 935 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 705 shares during the last quarter. Financial Architects Inc lifted its position in Chemours by 39.2% in the fourth quarter. Financial Architects Inc now owns 1,421 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 400 shares during the last quarter. Lavaca Capital LLC bought a new stake in Chemours in the fourth quarter worth $44,000. Finally, Legacy Bridge LLC lifted its position in Chemours by 100.0% in the first quarter. Legacy Bridge LLC now owns 1,200 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 600 shares during the last quarter. 82.18% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Amy Trojanowski sold 13,536 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $38.63, for a total transaction of $522,895.68. Following the sale, the vice president now owns 54,367 shares in the company, valued at $2,100,197.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Newman sold 59,210 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $38.26, for a total value of $2,265,374.60. Following the sale, the vice president now owns 94,261 shares in the company, valued at approximately $3,606,425.86. The disclosure for this sale can be found here. Insiders have sold 101,924 shares of company stock worth $3,924,730 in the last 90 days. Insiders own 2.34% of the company’s stock.
A number of analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Chemours to $43.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. JPMorgan Chase & Co. downgraded Chemours from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $40.00 to $34.00 in a research report on Monday, May 6th. ValuEngine downgraded Chemours from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. SunTrust Banks upgraded Chemours from a “hold” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $52.00 in a research report on Monday, April 15th. Finally, Zacks Investment Research upgraded Chemours from a “sell” rating to a “hold” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $46.00.
CC opened at $23.09 on Monday. Chemours Co has a 1 year low of $22.87 and a 1 year high of $53.25. The company has a debt-to-equity ratio of 5.18, a quick ratio of 1.04 and a current ratio of 1.81. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 4.07, a P/E/G ratio of 0.35 and a beta of 2.20.
Chemours (NYSE:CC) last posted its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.30). Chemours had a net margin of 12.60% and a return on equity of 87.75%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the firm earned $1.41 EPS. Chemours’s revenue for the quarter was down 20.5% on a year-over-year basis. Sell-side analysts predict that Chemours Co will post 4.22 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. Chemours’s payout ratio is 17.64%.
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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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