Wellington Management Group LLP lifted its holdings in Chemours Co (NYSE:CC) by 31.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,738 shares of the specialty chemicals company’s stock after purchasing an additional 6,167 shares during the period. Wellington Management Group LLP’s holdings in Chemours were worth $229,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of CC. Norges Bank bought a new position in shares of Chemours in the 4th quarter worth approximately $65,931,000. UBS Group AG lifted its stake in shares of Chemours by 1,333.9% in the 4th quarter. UBS Group AG now owns 725,330 shares of the specialty chemicals company’s stock worth $13,121,000 after purchasing an additional 674,747 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Chemours by 18.6% in the 4th quarter. Bank of New York Mellon Corp now owns 3,194,798 shares of the specialty chemicals company’s stock worth $57,794,000 after purchasing an additional 500,177 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Chemours by 150.0% in the 4th quarter. Macquarie Group Ltd. now owns 690,450 shares of the specialty chemicals company’s stock worth $12,490,000 after purchasing an additional 414,300 shares during the period. Finally, DC Investments Management LLC bought a new position in shares of Chemours in the 1st quarter worth approximately $3,413,000. Hedge funds and other institutional investors own 80.10% of the company’s stock.
In related news, COO Mark Newman bought 2,500 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were acquired at an average cost of $11.62 per share, for a total transaction of $29,050.00. Following the purchase, the chief operating officer now directly owns 132,344 shares of the company’s stock, valued at $1,537,837.28. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 2.72% of the stock is owned by corporate insiders.
NYSE CC opened at $15.31 on Wednesday. The company has a debt-to-equity ratio of 6.42, a quick ratio of 1.10 and a current ratio of 1.93. The company has a market capitalization of $2.48 billion, a P/E ratio of -51.03 and a beta of 2.43. Chemours Co has a one year low of $7.02 and a one year high of $24.73. The stock has a 50 day moving average price of $14.25 and a 200-day moving average price of $14.07.
Chemours (NYSE:CC) last released its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.25. Chemours had a negative net margin of 0.82% and a positive return on equity of 56.54%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $0.63 EPS. The business’s revenue was down 5.2% on a year-over-year basis. As a group, equities analysts predict that Chemours Co will post 1.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.00 dividend on an annualized basis and a yield of 6.53%. Chemours’s dividend payout ratio is currently 39.84%.
Several brokerages have recently weighed in on CC. Susquehanna Bancshares lowered their price objective on shares of Chemours from $23.00 to $17.00 in a research note on Tuesday, April 14th. Cfra reduced their target price on shares of Chemours from $21.00 to $11.00 and set a “hold” rating for the company in a report on Friday, April 3rd. Citigroup reduced their target price on shares of Chemours from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Royal Bank of Canada reduced their target price on shares of Chemours from $13.00 to $11.00 and set a “sector perform” rating for the company in a report on Wednesday, April 1st. Finally, SunTrust Banks increased their target price on shares of Chemours from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Chemours currently has a consensus rating of “Hold” and an average price target of $14.30.
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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