USA Financial Portformulas Corp purchased a new stake in Chemours Co (NYSE:CC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,960 shares of the specialty chemicals company’s stock, valued at approximately $353,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Gofen & Glossberg LLC IL acquired a new position in Chemours in the second quarter valued at $204,000. Gideon Capital Advisors Inc. acquired a new position in Chemours in the second quarter valued at $209,000. Quantitative Systematic Strategies LLC acquired a new position in Chemours in the second quarter valued at $247,000. Campbell & CO Investment Adviser LLC acquired a new position in Chemours in the second quarter valued at $253,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Chemours by 24.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,806 shares of the specialty chemicals company’s stock valued at $258,000 after purchasing an additional 1,150 shares during the period. 76.33% of the stock is owned by hedge funds and other institutional investors.
CC has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Chemours from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Morgan Stanley dropped their price target on shares of Chemours from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Tuesday, September 25th. Zacks Investment Research lowered shares of Chemours from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 11th. Citigroup dropped their price target on shares of Chemours from $61.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, October 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of Chemours in a research note on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $54.67.
Shares of Chemours stock opened at $34.37 on Monday. Chemours Co has a 52-week low of $31.34 and a 52-week high of $54.62. The company has a current ratio of 2.03, a quick ratio of 1.39 and a debt-to-equity ratio of 3.48. The stock has a market cap of $6.08 billion, a PE ratio of 9.00, a PEG ratio of 0.39 and a beta of 2.74.
Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.07. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.71 billion. Chemours had a net margin of 16.02% and a return on equity of 106.98%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. Equities analysts anticipate that Chemours Co will post 5.7 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Thursday, November 15th. Chemours’s dividend payout ratio is currently 26.18%.
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: How Buying a Call Option Works
Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.