5,609 Shares in Chemours Co (NYSE:CC) Purchased by BB&T Corp

BB&T Corp acquired a new stake in shares of Chemours Co (NYSE:CC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,609 shares of the specialty chemicals company’s stock, valued at approximately $281,000.

Other institutional investors have also recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Chemours during the fourth quarter valued at $116,000. First Allied Advisory Services Inc. bought a new position in shares of Chemours during the third quarter valued at $202,000. Gamco Investors INC. ET AL bought a new position in shares of Chemours during the third quarter valued at $202,000. Bell Bank bought a new position in shares of Chemours during the third quarter valued at $202,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Chemours during the third quarter valued at $203,000. 74.10% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Chemours in a report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 price target for the company. Zacks Investment Research downgraded Chemours from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Barclays reiterated a “buy” rating and issued a $60.00 price objective on shares of Chemours in a report on Wednesday, December 6th. Goldman Sachs Group downgraded Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Wednesday, December 6th. Finally, Jefferies Group lifted their price objective on Chemours to $66.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.85.

In other Chemours news, insider Christian W. Siemer sold 15,088 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total transaction of $714,718.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.14% of the company’s stock.

Shares of Chemours Co (NYSE:CC) opened at $47.60 on Wednesday. The stock has a market capitalization of $8,839.69, a PE ratio of 32.86, a price-to-earnings-growth ratio of 0.61 and a beta of 3.03. Chemours Co has a 52 week low of $31.48 and a 52 week 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.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.17 per share. 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 dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, February 14th. Chemours’s payout ratio is currently 8.28%.

Chemours announced that its board has initiated a share buyback plan on Friday, December 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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About Chemours

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.

Institutional Ownership by Quarter for Chemours (NYSE:CC)

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