Aperio Group LLC reduced its position in shares of Chemours Co (NYSE:CC) by 12.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 100,922 shares of the specialty chemicals company’s stock after selling 14,907 shares during the quarter. Aperio Group LLC owned about 0.05% of Chemours worth $5,052,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ardevora Asset Management LLP purchased a new position in Chemours in the third quarter valued at about $40,351,000. Capital Growth Management LP acquired a new stake in shares of Chemours during the third quarter worth about $38,970,000. Columbus Circle Investors lifted its holdings in shares of Chemours by 173.2% during the third quarter. Columbus Circle Investors now owns 1,022,466 shares of the specialty chemicals company’s stock worth $51,747,000 after purchasing an additional 648,200 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Chemours by 883.8% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 419,772 shares of the specialty chemicals company’s stock worth $21,245,000 after purchasing an additional 377,103 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of Chemours during the third quarter worth about $17,481,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.
CC has been the subject of a number of research reports. Goldman Sachs Group downgraded Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Wednesday, December 6th. Zacks Investment Research upgraded Chemours from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, November 9th. Barclays boosted their price objective on Chemours from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 6th. UBS Group boosted their price target on Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, Jefferies Group boosted their price target on Chemours to $66.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Chemours currently has an average rating of “Buy” and an average target price of $57.95.
Shares of Chemours Co (CC) traded up $0.63 during trading on Thursday, hitting $50.64. The stock had a trading volume of 570,803 shares, compared to its average volume of 1,745,959. Chemours Co has a twelve month low of $32.09 and a twelve month high of $58.08. The company has a current ratio of 2.12, a quick ratio of 1.55 and a debt-to-equity ratio of 4.74. The firm has a market cap of $9,140.81, a price-to-earnings ratio of 13.00, a PEG ratio of 0.62 and a beta of 3.03.
Chemours (NYSE:CC) last posted its earnings results on Wednesday, February 14th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.24. Chemours had a return on equity of 115.54% and a net margin of 12.06%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the company earned $0.08 EPS. Chemours’s revenue was up 19.1% on a year-over-year basis. research analysts expect that Chemours Co will post 5.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.17 per share. This is an increase from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.68 annualized dividend and a yield of 1.34%. Chemours’s dividend payout ratio is 17.44%.
Chemours announced that its Board of Directors has initiated a share repurchase plan on Friday, December 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, insider Christian W. Siemer sold 15,088 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total value of $714,718.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.14% of the stock is owned by corporate insiders.
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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