Xponance Inc. lessened its holdings in shares of The Chemours Company (NYSE:CC – Free Report) by 37.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,180 shares of the specialty chemicals company’s stock after selling 10,679 shares during the period. Xponance Inc.’s holdings in Chemours were worth $671,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. grew its stake in Chemours by 29.0% during 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 last quarter. Vanguard Group Inc. grew its stake in Chemours by 5.5% during the 3rd 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. FMR LLC grew its stake in Chemours by 29.0% during the 1st quarter. FMR LLC now owns 15,256,880 shares of the specialty chemicals company’s stock worth $456,791,000 after buying an additional 3,427,490 shares during the last quarter. State Street Corp grew its stake in Chemours by 5.8% during the 1st quarter. State Street Corp now owns 4,618,424 shares of the specialty chemicals company’s stock worth $145,388,000 after buying an additional 254,243 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Chemours by 9.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,164,475 shares of the specialty chemicals company’s stock worth $94,745,000 after buying an additional 279,414 shares during the last quarter. Institutional investors and hedge funds own 76.46% of the company’s stock.
Chemours Trading Up 0.9 %
Shares of CC stock opened at $28.05 on Friday. The business’s fifty day moving average price is $33.38 and its 200 day moving average price is $32.16. The Chemours Company has a 1-year low of $24.25 and a 1-year high of $39.05. The firm has a market capitalization of $4.15 billion, a PE ratio of -41.25, a P/E/G ratio of 1.08 and a beta of 1.98. The company has a debt-to-equity ratio of 4.45, a current ratio of 1.54 and a quick ratio of 0.88.
Chemours (NYSE:CC – Get Free Report) last posted its earnings results on Friday, July 28th. The specialty chemicals company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $1.89 earnings per share. As a group, sell-side analysts forecast that The Chemours Company will post 3.37 EPS for the current fiscal year.
Chemours Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Monday, August 14th. Chemours’s dividend payout ratio (DPR) is -147.06%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on CC shares. Morgan Stanley reissued an “equal weight” rating and issued a $33.00 target price on shares of Chemours in a report on Tuesday, August 1st. UBS Group boosted their target price on Chemours from $41.00 to $43.00 in a report on Tuesday, June 13th. Royal Bank of Canada boosted their target price on Chemours from $37.00 to $40.00 and gave the company a “sector perform” rating in a report on Monday, July 31st. Barclays boosted their target price on Chemours from $38.00 to $40.00 in a report on Tuesday, July 11th. Finally, BMO Capital Markets dropped their target price on Chemours from $64.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Chemours currently has a consensus rating of “Hold” and an average target price of $38.22.
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, 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.