Dimensional Fund Advisors LP lifted its position in shares of Chemours Co (NYSE:CC) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 707,349 shares of the specialty chemicals company’s stock after buying an additional 7,604 shares during the period. Dimensional Fund Advisors LP owned 0.38% of Chemours worth $35,798,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. raised its stake in Chemours by 264.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 42,669 shares of the specialty chemicals company’s stock worth $1,618,000 after purchasing an additional 30,970 shares during the period. Schroder Investment Management Group raised its stake in shares of Chemours by 536.6% in the 2nd quarter. Schroder Investment Management Group now owns 26,100 shares of the specialty chemicals company’s stock valued at $927,000 after acquiring an additional 22,000 shares during the period. Martingale Asset Management L P raised its stake in shares of Chemours by 76.6% in the 2nd quarter. Martingale Asset Management L P now owns 53,701 shares of the specialty chemicals company’s stock valued at $2,037,000 after acquiring an additional 23,288 shares during the period. Riverhead Capital Management LLC raised its stake in shares of Chemours by 111.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 12,669 shares of the specialty chemicals company’s stock valued at $480,000 after acquiring an additional 6,669 shares during the period. Finally, Raymond James Trust N.A. raised its stake in shares of Chemours by 7.5% in the 2nd quarter. Raymond James Trust N.A. now owns 10,047 shares of the specialty chemicals company’s stock valued at $381,000 after acquiring an additional 704 shares during the period. 74.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chemours Co (NYSE:CC) traded down $2.34 during trading hours on Monday, reaching $46.88. 1,943,686 shares of the company traded hands, compared to its average volume of 1,510,000. The company has a market cap of $8,660.00 and a P/E ratio of 32.33. Chemours Co has a 12-month low of $26.33 and a 12-month high of $58.08. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.63 and a current ratio of 2.19.
Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.11. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.59 billion. Chemours had a net margin of 4.86% and a return on equity of 116.80%. Chemours’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. sell-side analysts anticipate that Chemours Co will post 3.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Chemours’s previous quarterly dividend of $0.03. This represents a $0.68 dividend on an annualized basis and a yield of 1.45%. Chemours’s payout ratio is presently 8.28%.
Chemours announced that its board has initiated a share buyback plan on Friday, December 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
A number of equities research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Chemours in a report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 price target for the company. Barclays reaffirmed a “buy” rating and set a $60.00 price target on shares of Chemours in a report on Wednesday, December 6th. Jefferies Group raised their price objective on shares of Chemours to $66.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Zacks Investment Research lowered shares of Chemours from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, UBS Group raised their price objective on shares of Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $57.85.
In related news, insider Christian W. Siemer sold 15,088 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.37, for a total transaction of $714,718.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.14% of the company’s stock.
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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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