Alps Advisors Inc. trimmed its holdings in Chemours Co (NYSE:CC) by 24.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,918 shares of the specialty chemicals company’s stock after selling 3,177 shares during the quarter. Alps Advisors Inc.’s holdings in Chemours were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Chemours by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 989,719 shares of the specialty chemicals company’s stock worth $27,929,000 after purchasing an additional 27,651 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Chemours by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 1,734,170 shares of the specialty chemicals company’s stock valued at $48,906,000 after acquiring an additional 58,490 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Chemours by 53,280.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 2,669 shares of the specialty chemicals company’s stock valued at $99,000 after acquiring an additional 2,664 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Chemours by 6.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,457 shares of the specialty chemicals company’s stock valued at $1,466,000 after acquiring an additional 2,522 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Chemours in the first quarter valued at approximately $26,000. 79.80% of the stock is currently owned by institutional investors.
In other Chemours news, Director Mary B. Cranston bought 1,790 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $13.99 per share, for a total transaction of $25,042.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider E Bryan Snell bought 12,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $13.77 per share, for a total transaction of $165,240.00. Following the completion of the purchase, the insider now directly owns 117,774 shares in the company, valued at $1,621,747.98. The disclosure for this purchase can be found here. In the last three months, insiders have bought 33,790 shares of company stock valued at $470,932. Insiders own 2.34% of the company’s stock.
Shares of CC opened at $16.35 on Friday. The company has a 50-day simple moving average of $14.71 and a two-hundred day simple moving average of $26.26. Chemours Co has a one year low of $11.71 and a one year high of $42.13. The firm has a market capitalization of $2.68 billion, a PE ratio of 2.88, a price-to-earnings-growth ratio of 0.41 and a beta of 2.57. The company has a debt-to-equity ratio of 5.37, a current ratio of 1.96 and a quick ratio of 1.09.
Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.18). The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a net margin of 10.33% and a return on equity of 71.90%. Chemours’s revenue was down 22.5% on a year-over-year basis. During the same period last year, the business earned $1.71 EPS. Analysts expect that Chemours Co will post 2.6 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend is Thursday, August 15th. Chemours’s payout ratio is 17.64%.
CC has been the topic of several research analyst reports. SunTrust Banks downgraded Chemours from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. TheStreet downgraded Chemours from a “b-” rating to a “c+” rating in a research report on Friday, August 9th. Jefferies Financial Group dropped their target price on Chemours from $48.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Royal Bank of Canada downgraded Chemours from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $32.00 to $16.00 in a research report on Friday, August 9th. Finally, Argus downgraded Chemours from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.30.
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.
See Also: Net Margin
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