Fmr LLC Buys 618,361 Shares of The Chemours Company (NYSE:CC)

Fmr LLC boosted its stake in The Chemours Company (NYSE:CC) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,142,202 shares of the specialty chemicals company’s stock after purchasing an additional 618,361 shares during the period. Fmr LLC owned approximately 12.14% of Chemours worth $368,650,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Chemours by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 91,345 shares of the specialty chemicals company’s stock worth $2,399,000 after purchasing an additional 2,932 shares during the period. Linden Thomas Advisory Services LLC bought a new stake in shares of Chemours during the 2nd quarter valued at $460,000. Bourgeon Capital Management LLC increased its stake in shares of Chemours by 2.1% in the 2nd quarter. Bourgeon Capital Management LLC now owns 71,750 shares of the specialty chemicals company’s stock worth $1,619,000 after purchasing an additional 1,500 shares in the last quarter. SG Americas Securities LLC bought a new position in Chemours in the 2nd quarter worth $529,000. Finally, Twelve Points Wealth Management LLC lifted its position in Chemours by 15.7% during the second quarter. Twelve Points Wealth Management LLC now owns 22,548 shares of the specialty chemicals company’s stock valued at $509,000 after purchasing an additional 3,068 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares in the company, valued at $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CC shares. The Goldman Sachs Group decreased their price objective on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price target on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Barclays increased their price objective on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. UBS Group dropped their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, BMO Capital Markets raised their price target on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.88.

Chemours Stock Down 0.4 %

CC opened at $21.74 on Friday. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $32.70. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. The firm has a 50-day simple moving average of $19.71 and a two-hundred day simple moving average of $21.35. The company has a market capitalization of $3.25 billion, a PE ratio of 43.48 and a beta of 1.75.

Chemours (NYSE:CC) last released its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Analysts forecast that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 4.60%. Chemours’s dividend payout ratio (DPR) is currently 200.00%.

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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.