Heritage Investors Management Corp Lowers Stake in Chemours Co (CC)

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Heritage Investors Management Corp lowered its stake in shares of Chemours Co (NYSE:CC) by 1.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 114,800 shares of the specialty chemicals company’s stock after selling 1,820 shares during the period. Heritage Investors Management Corp’s holdings in Chemours were worth $4,528,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Trilogy Capital Inc. purchased a new position in Chemours in the 3rd quarter worth $179,000. Gofen & Glossberg LLC IL purchased a new position in Chemours in the 2nd quarter worth $204,000. Gideon Capital Advisors Inc. purchased a new position in Chemours in the 2nd quarter worth $209,000. Quantitative Systematic Strategies LLC purchased a new position in Chemours in the 2nd quarter worth $247,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Chemours in the 2nd quarter worth $253,000. Hedge funds and other institutional investors own 76.33% of the company’s stock.

A number of equities analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of Chemours from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Tuesday, September 25th. Barclays reiterated a “buy” rating and issued a $62.00 target price on shares of Chemours in a research report on Tuesday, August 7th. ValuEngine cut shares of Chemours from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. SunTrust Banks assumed coverage on shares of Chemours in a research report on Tuesday, July 31st. They issued a “hold” rating and a $51.00 target price on the stock. Finally, Royal Bank of Canada assumed coverage on shares of Chemours in a research report on Wednesday, July 18th. They issued an “outperform” rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $52.60.

CC stock opened at $32.90 on Friday. Chemours Co has a 12-month low of $31.34 and a 12-month high of $54.62. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 0.38 and a beta of 2.74. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.39 and a current ratio of 2.03.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, November 1st. The specialty chemicals company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Chemours Co will post 5.69 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, November 15th. Chemours’s payout ratio is 26.18%.

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About Chemours

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.

Further Reading: Hedge Funds Explained

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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