MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Chemours Co (NYSE:CC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,900 shares of the specialty chemicals company’s stock, valued at approximately $739,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Live Your Vision LLC lifted its stake in Chemours by 6.3% in the first quarter. Live Your Vision LLC now owns 4,993 shares of the specialty chemicals company’s stock worth $198,000 after purchasing an additional 295 shares during the last quarter. Financial Architects Inc raised 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 acquiring an additional 400 shares during the period. Gulf International Bank UK Ltd raised its position in Chemours by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 40,350 shares of the specialty chemicals company’s stock worth $1,499,000 after acquiring an additional 400 shares during the period. TCI Wealth Advisors Inc. raised its position in Chemours by 27.5% in the first quarter. TCI Wealth Advisors Inc. now owns 1,916 shares of the specialty chemicals company’s stock worth $71,000 after acquiring an additional 413 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in Chemours by 2.2% in the first quarter. Crossmark Global Holdings Inc. now owns 23,040 shares of the specialty chemicals company’s stock worth $856,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 82.18% of the company’s stock.
Shares of NYSE CC opened at $22.41 on Tuesday. The company has a debt-to-equity ratio of 5.18, a current ratio of 1.81 and a quick ratio of 1.04. The firm has a market capitalization of $3.79 billion, a PE ratio of 3.95, a PEG ratio of 0.35 and a beta of 2.20. Chemours Co has a 1 year low of $22.36 and a 1 year high of $53.25.
Chemours (NYSE:CC) last announced its quarterly earnings data on Thursday, May 2nd. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.30). The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Chemours had a return on equity of 87.75% and a net margin of 12.60%. The business’s revenue for the quarter was down 20.5% on a year-over-year basis. During the same period last year, the company earned $1.41 earnings per share. As a group, research analysts predict that Chemours Co will post 4.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.00 annualized dividend and a yield of 4.46%. Chemours’s dividend payout ratio (DPR) is currently 17.64%.
In other news, VP Amy Trojanowski sold 13,536 shares of Chemours stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $38.63, for a total value of $522,895.68. Following the transaction, the vice president now owns 54,367 shares of the company’s stock, valued at approximately $2,100,197.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Susan M. Kelliher acquired 6,500 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was purchased at an average cost of $23.06 per share, for a total transaction of $149,890.00. The disclosure for this purchase can be found here. Insiders have sold 101,924 shares of company stock valued at $3,924,730 in the last quarter. 2.34% of the stock is owned by company insiders.
Several research analysts have weighed in on the stock. ValuEngine upgraded shares of Chemours from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 20th. Citigroup reiterated a “buy” rating and issued a $43.00 price target on shares of Chemours in a research report on Wednesday, February 20th. Zacks Investment Research upgraded shares of Chemours from a “sell” rating to a “hold” rating in a research report on Monday, March 18th. SunTrust Banks upgraded shares of Chemours from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $52.00 in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. downgraded shares of Chemours from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $40.00 to $34.00 in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $46.00.
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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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