Jacobs Levy Equity Management Inc. acquired a new position in shares of The Chemours Company (NYSE:CC - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 120,506 shares of the specialty chemicals company's stock, valued at approximately $2,449,000. Jacobs Levy Equity Management Inc. owned approximately 0.08% of Chemours at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CC. FMR LLC grew its position in Chemours by 3.5% in the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company's stock worth $368,650,000 after acquiring an additional 618,361 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Chemours by 23.8% in the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company's stock worth $158,213,000 after purchasing an additional 1,347,710 shares during the period. Khrom Capital Management LLC increased its position in shares of Chemours by 54.6% during the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company's stock valued at $78,016,000 after purchasing an additional 1,220,967 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Chemours by 6.8% during 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 period. Finally, American Century Companies Inc. lifted its position in Chemours by 26.7% in the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company's stock worth $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.
Insider Activity
In related 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 sale, the senior vice president now directly owns 16,645 shares of the company's stock, valued at $343,552.80. This trade represents a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.47% of the company's stock.
Chemours Stock Down 0.5 %
Chemours stock traded down $0.10 during midday trading on Friday, reaching $21.00. The company's stock had a trading volume of 1,208,958 shares, compared to its average volume of 1,341,558. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $32.70. The stock has a market capitalization of $3.14 billion, a P/E ratio of 42.00 and a beta of 1.80. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. The stock's 50-day simple moving average is $19.88 and its 200-day simple moving average is $20.99.
Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 1.34% and a return on equity of 29.48%. The business's quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. On average, sell-side analysts expect that The Chemours Company will post 1.35 EPS for the current 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Friday, November 15th. Chemours's payout ratio is 200.00%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. BMO Capital Markets raised their price objective on shares of Chemours from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, October 7th. 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. Royal Bank of Canada cut their price objective on Chemours from $28.00 to $25.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group decreased their target price on Chemours from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Tuesday, September 3rd. Finally, Barclays upped their price target on shares of Chemours from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $24.88.
View Our Latest Research Report on Chemours
About Chemours
(
Free Report)
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.
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