Marshall Wace LLP grew its holdings in shares of Chemours Co (NYSE:CC) by 67.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,396,422 shares of the specialty chemicals company’s stock after purchasing an additional 561,484 shares during the period. Marshall Wace LLP’s holdings in Chemours were worth $55,075,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Virginia Retirement Systems ET AL lifted its stake in Chemours by 7.1% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 21,200 shares of the specialty chemicals company’s stock valued at $940,000 after buying an additional 1,400 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Chemours by 17.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 9,578 shares of the specialty chemicals company’s stock worth $378,000 after purchasing an additional 1,431 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in Chemours by 28.1% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 7,300 shares of the specialty chemicals company’s stock worth $288,000 after purchasing an additional 1,600 shares in the last quarter. People s United Financial Inc. lifted its stake in Chemours by 4.6% in the 3rd quarter. People s United Financial Inc. now owns 38,192 shares of the specialty chemicals company’s stock worth $1,507,000 after purchasing an additional 1,681 shares in the last quarter. Finally, ING Groep NV lifted its stake in Chemours by 18.1% in the 3rd quarter. ING Groep NV now owns 11,839 shares of the specialty chemicals company’s stock worth $467,000 after purchasing an additional 1,817 shares in the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.
In related news, Director Richard H. Brown bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was purchased at an average price of $28.60 per share, for a total transaction of $286,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.75% of the stock is currently owned by company insiders.
Shares of NYSE CC traded down $0.27 during midday trading on Thursday, reaching $26.88. 3,977,700 shares of the stock were exchanged, compared to its average volume of 1,716,864. Chemours Co has a twelve month low of $25.22 and a twelve month high of $54.62. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.39. The company has a market capitalization of $4.64 billion, a P/E ratio of 6.87, a P/E/G ratio of 0.31 and a beta of 2.68.
Chemours (NYSE:CC) last posted its earnings results on Thursday, November 1st. The specialty chemicals company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.07. Chemours had a net margin of 16.02% and a return on equity of 106.98%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $1.12 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, research analysts expect that Chemours Co will post 5.69 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 15th. This represents a $1.00 annualized dividend and a yield of 3.72%. Chemours’s dividend payout ratio (DPR) is presently 26.18%.
A number of research analysts have weighed in on CC shares. Zacks Investment Research lowered shares of Chemours from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 11th. SunTrust Banks cut their price target on shares of Chemours to $38.00 and set a “hold” rating for the company in a report on Monday, November 5th. Royal Bank of Canada restated an “outperform” rating on shares of Chemours in a report on Thursday, September 13th. ValuEngine downgraded shares of Chemours from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 15th. Finally, Citigroup downgraded shares of Chemours from a “buy” rating to a “neutral” rating and cut their price target for the stock from $44.00 to $38.00 in a report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $51.11.
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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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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