Erste Asset Management GmbH Makes New $728,000 Investment in The Chemours Company (NYSE:CC)

Erste Asset Management GmbH purchased a new position in shares of The Chemours Company (NYSE:CC - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 35,142 shares of the specialty chemicals company's stock, valued at approximately $728,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Khrom Capital Management LLC raised its position in shares of Chemours by 54.6% in the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company's stock worth $78,016,000 after acquiring an additional 1,220,967 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Chemours during the 2nd quarter worth $789,000. Jade Capital Advisors LLC grew its stake in Chemours by 75.0% during the 3rd quarter. Jade Capital Advisors LLC now owns 70,000 shares of the specialty chemicals company's stock worth $1,422,000 after buying an additional 30,000 shares during the last quarter. Private Management Group Inc. grew its stake in Chemours by 72.0% during the 3rd quarter. Private Management Group Inc. now owns 785,809 shares of the specialty chemicals company's stock worth $15,968,000 after buying an additional 329,037 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Chemours during the 2nd quarter worth $2,504,000. 76.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada dropped their price target on Chemours from $28.00 to $25.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. UBS Group lowered their target price on Chemours from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Morgan Stanley lowered their target price on Chemours from $30.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. BMO Capital Markets upped their price target on Chemours from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. reduced their price target on Chemours from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $24.88.

Insider Activity at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the sale, the senior vice president now directly owns 16,645 shares in the company, valued at $343,552.80. This trade represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by insiders.

Chemours Price Performance

Shares of NYSE:CC traded down $0.35 during trading on Wednesday, hitting $21.28. 1,004,938 shares of the stock were exchanged, compared to its average volume of 1,568,295. The company has a fifty day moving average price of $19.81 and a two-hundred day moving average price of $21.14. The company has a market cap of $3.18 billion, a PE ratio of 42.86 and a beta of 1.80. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The Chemours Company has a 12-month low of $15.10 and a 12-month high of $32.70.

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

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Friday, November 15th. 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.