ARGA Investment Management LP Has $3 Million Stock Position in The Chemours Company (NYSE:CC)

ARGA Investment Management LP lifted its position in shares of The Chemours Company (NYSE:CC - Free Report) by 61.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,582 shares of the specialty chemicals company's stock after acquiring an additional 55,903 shares during the quarter. ARGA Investment Management LP owned approximately 0.10% of Chemours worth $2,999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Chemours by 3.5% in the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company's stock valued at $368,650,000 after buying an additional 618,361 shares during the period. Marshall Wace LLP boosted its position in shares of Chemours by 23.8% during the second quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company's stock worth $158,213,000 after buying an additional 1,347,710 shares during the period. Khrom Capital Management LLC grew its holdings in shares of Chemours by 54.6% during the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company's stock worth $78,016,000 after buying an additional 1,220,967 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Chemours by 6.8% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,824,301 shares of the specialty chemicals company's stock valued at $63,744,000 after buying an additional 178,625 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Chemours by 26.7% in the 2nd quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company's stock valued at $40,896,000 after buying an additional 382,100 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CC has been the topic of several recent research reports. UBS Group lowered their price target on shares of Chemours from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada dropped their target price on Chemours from $28.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Morgan Stanley decreased their price target on Chemours from $30.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Chemours from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Chemours has a consensus rating of "Hold" and a consensus price target of $24.88.

Chemours Stock Performance

CC stock traded down $0.08 during mid-day trading on Friday, hitting $21.74. 708,418 shares of the company were exchanged, compared to its average volume of 1,735,878. The Chemours Company has a 1-year low of $15.10 and a 1-year high of $32.70. The stock has a market capitalization of $3.25 billion, a PE ratio of 43.48 and a beta of 1.75. The business has a 50 day simple moving average of $19.71 and a 200-day simple moving average of $21.29. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05.

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

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.60%. Chemours's dividend payout ratio (DPR) is 200.00%.

Insider Buying and Selling at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the transaction, the senior vice president now owns 16,645 shares of the company's stock, valued at $343,552.80. This represents a 31.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.47% of the company's stock.

Chemours Company 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.