First Trust Advisors LP decreased its holdings in Chemours Co (NYSE:CC) by 37.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,100 shares of the specialty chemicals company’s stock after selling 234,602 shares during the quarter. First Trust Advisors LP owned about 0.22% of Chemours worth $17,394,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Chemours in the 1st quarter worth $178,000. Cerebellum GP LLC acquired a new stake in shares of Chemours in the 2nd quarter worth $175,000. Johanson Financial Advisors Inc. acquired a new stake in Chemours during the 1st quarter worth about $206,000. Gofen & Glossberg LLC IL acquired a new stake in Chemours during the 2nd quarter worth about $204,000. Finally, IFM Investors Pty Ltd acquired a new stake in Chemours during the 1st quarter worth about $273,000. 78.90% of the stock is owned by hedge funds and other institutional investors.
CC has been the subject of a number of research reports. Barclays reaffirmed a “buy” rating and set a $64.00 price target on shares of Chemours in a research report on Tuesday, May 8th. Royal Bank of Canada initiated coverage on Chemours in a research report on Wednesday, July 18th. They set an “outperform” rating and a $60.00 price target for the company. ValuEngine cut Chemours from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Zacks Investment Research cut Chemours from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 9th. Finally, SunTrust Banks initiated coverage on Chemours in a research report on Tuesday, July 31st. They set a “hold” rating and a $51.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $59.10.
NYSE CC opened at $43.07 on Friday. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 0.50 and a beta of 2.84. Chemours Co has a fifty-two week low of $42.00 and a fifty-two week high of $58.08. The company has a quick ratio of 1.47, a current ratio of 2.09 and a debt-to-equity ratio of 3.86.
Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, August 2nd. The specialty chemicals company reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.18. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.82 billion. Chemours had a return on equity of 107.22% and a net margin of 15.11%. The company’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. analysts forecast that Chemours Co will post 5.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from Chemours’s previous quarterly dividend of $0.17. Chemours’s dividend payout ratio (DPR) is presently 17.80%.
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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