Cornerstone Wealth Management LLC Raises Position in Chemours Co (CC)

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Cornerstone Wealth Management LLC boosted its holdings in Chemours Co (NYSE:CC) by 22.4% in the third quarter, Holdings Channel reports. The institutional investor owned 19,460 shares of the specialty chemicals company’s stock after buying an additional 3,560 shares during the period. Cornerstone Wealth Management LLC’s holdings in Chemours were worth $355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its position in Chemours by 24.7% during the 2nd 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. Virginia Retirement Systems ET AL increased its position in Chemours by 7.1% during 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 purchasing an additional 1,400 shares during the period. DnB Asset Management AS increased its position in Chemours by 9.0% during the 2nd quarter. DnB Asset Management AS now owns 18,100 shares of the specialty chemicals company’s stock valued at $803,000 after purchasing an additional 1,500 shares during the period. GWM Advisors LLC increased its position in Chemours by 5.6% during the 2nd quarter. GWM Advisors LLC now owns 33,991 shares of the specialty chemicals company’s stock valued at $1,493,000 after purchasing an additional 1,788 shares during the period. Finally, Navellier & Associates Inc increased its position in Chemours by 2.7% during the 2nd quarter. Navellier & Associates Inc now owns 72,358 shares of the specialty chemicals company’s stock valued at $3,210,000 after purchasing an additional 1,923 shares during the period. Institutional investors and hedge funds own 76.33% of the company’s stock.

Shares of CC stock opened at $33.98 on Wednesday. The company has a market cap of $6.08 billion, a PE ratio of 8.90, a P/E/G ratio of 0.39 and a beta of 2.74. Chemours Co has a 52 week low of $31.34 and a 52 week 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.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, November 1st. The specialty chemicals company reported $1.49 earnings per share (EPS) for the quarter, beating the 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 business 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 posted $1.12 EPS. Chemours’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Chemours Co will post 5.7 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, November 15th. Chemours’s payout ratio is currently 26.18%.

A number of research firms have weighed in on CC. BMO Capital Markets decreased their target price on shares of Chemours from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Monday. They noted that the move was a valuation call. Susquehanna Bancshares decreased their target price on shares of Chemours from $65.00 to $44.00 and set a “positive” rating for the company in a research report on Monday. SunTrust Banks decreased their target price on shares of Chemours to $38.00 and set a “hold” rating for the company in a research report on Monday. Citigroup downgraded shares of Chemours from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $44.00 to $38.00 in a research report on Friday, November 2nd. Finally, Zacks Investment Research downgraded shares of Chemours from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.60.

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Chemours 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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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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