Raymond James Trust N.A. increased its holdings in The Chemours Company (NYSE:CC – Get Rating) by 11.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,222 shares of the specialty chemicals company's stock after buying an additional 1,032 shares during the quarter. Raymond James Trust N.A.'s holdings in Chemours were worth $327,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of CC. BlackRock Inc. increased its holdings in Chemours by 29.0% in the 1st quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company's stock worth $569,023,000 after buying an additional 4,060,250 shares during the period. Millennium Management LLC increased its holdings in Chemours by 315.7% in the 4th quarter. Millennium Management LLC now owns 2,287,108 shares of the specialty chemicals company's stock worth $76,755,000 after buying an additional 1,736,888 shares during the period. First Trust Advisors LP increased its holdings in Chemours by 214.1% in the 1st quarter. First Trust Advisors LP now owns 1,314,288 shares of the specialty chemicals company's stock worth $41,374,000 after buying an additional 895,847 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Chemours in the 1st quarter worth approximately $19,175,000. Finally, Geode Capital Management LLC increased its holdings in Chemours by 26.8% in the 4th quarter. Geode Capital Management LLC now owns 2,781,603 shares of the specialty chemicals company's stock worth $93,350,000 after buying an additional 588,765 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.
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Chemours Trading Up 0.7 %
Shares of NYSE:CC opened at $24.10 on Wednesday. The Chemours Company has a 1 year low of $22.56 and a 1 year high of $44.95. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 4.50, a price-to-earnings-growth ratio of 0.42 and a beta of 1.80. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.91 and a quick ratio of 1.27. The business's 50 day moving average price is $33.88 and its 200-day moving average price is $34.60.
Chemours (NYSE:CC – Get Rating) last announced its earnings results on Thursday, July 28th. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.47. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. Chemours had a return on equity of 79.77% and a net
margin of 12.72%. The business's revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. On average, equities research analysts forecast that The Chemours Company will post 5.41 earnings per share for the current fiscal year.
Chemours Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 4.15%. Chemours's payout ratio is currently 18.66%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Chemours from a "strong-buy" rating to a "buy" rating in a report on Friday, September 23rd. Bank of America dropped their price objective on shares of Chemours from $44.00 to $36.00 in a research note on Thursday, September 22nd. Royal Bank of Canada dropped their price objective on shares of Chemours from $48.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, September 22nd. BMO Capital Markets dropped their price objective on shares of Chemours from $55.00 to $46.00 and set an "outperform" rating on the stock in a research note on Friday, September 23rd. Finally, UBS Group raised their price objective on shares of Chemours from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, July 29th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $35.71.
Chemours Profile
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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 four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, 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.
Further Reading
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