American International Group Inc. raised its holdings in Chemours Co (NYSE:CC) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 383,620 shares of the specialty chemicals company’s stock after acquiring an additional 5,556 shares during the quarter. American International Group Inc.’s holdings in Chemours were worth $19,204,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of CC. Public Employees Retirement System of Ohio lifted its holdings in Chemours by 306.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 98,590 shares of the specialty chemicals company’s stock valued at $3,739,000 after acquiring an additional 74,329 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Chemours during the 3rd quarter worth about $12,270,000. Robeco Institutional Asset Management B.V. acquired a new stake in Chemours during the 3rd quarter worth about $842,000. Oakbrook Investments LLC raised its holdings in Chemours by 26.3% during the 3rd quarter. Oakbrook Investments LLC now owns 10,070 shares of the specialty chemicals company’s stock worth $510,000 after buying an additional 2,100 shares during the period. Finally, Nationwide Fund Advisors raised its holdings in Chemours by 10.3% during the 3rd quarter. Nationwide Fund Advisors now owns 545,708 shares of the specialty chemicals company’s stock worth $27,618,000 after buying an additional 51,098 shares during the period. 77.01% of the stock is owned by institutional investors.
Several analysts have issued reports on CC shares. Zacks Investment Research upgraded Chemours from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, November 9th. Jefferies Group boosted their price objective on Chemours to $66.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Goldman Sachs Group downgraded Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Wednesday, December 6th. Morgan Stanley started coverage on Chemours in a report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 price objective on the stock. Finally, Barclays restated a “buy” rating and set a $60.00 price objective on shares of Chemours in a report on Wednesday, December 6th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Chemours currently has an average rating of “Buy” and an average target price of $57.85.
Chemours Co (NYSE CC) opened at $50.08 on Wednesday. The firm has a market capitalization of $9,250.00 and a PE ratio of 12.84. Chemours Co has a twelve month low of $32.09 and a twelve month high of $58.08. The company has a quick ratio of 1.55, a current ratio of 2.12 and a debt-to-equity ratio of 4.74.
Chemours (NYSE:CC) last issued its earnings results on Wednesday, February 14th. The specialty chemicals company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.24. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.55 billion. Chemours had a return on equity of 110.66% and a net margin of 14.48%. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. sell-side analysts forecast that Chemours Co will post 5.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th will be issued a $0.17 dividend. This is an increase from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.36%. Chemours’s dividend payout ratio is currently 17.44%.
Chemours declared that its Board of Directors has authorized a share repurchase plan on Friday, December 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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Chemours Company Profile
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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