Swiss National Bank raised its stake in shares of The Chemours Company (NYSE:CC) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,800 shares of the specialty chemicals company’s stock after purchasing an additional 1,700 shares during the quarter. Swiss National Bank’s holdings in Chemours were worth $10,630,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CC. First Trust Advisors LP boosted its holdings in shares of Chemours by 40.1% in the 1st quarter. First Trust Advisors LP now owns 117,670 shares of the specialty chemicals company’s stock valued at $4,373,000 after acquiring an additional 33,696 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Chemours by 7.6% in the 2nd quarter. Sei Investments Co. now owns 19,956 shares of the specialty chemicals company’s stock valued at $687,000 after acquiring an additional 1,414 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Chemours by 9.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 219,036 shares of the specialty chemicals company’s stock valued at $7,622,000 after acquiring an additional 18,134 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Chemours by 13.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 131,407 shares of the specialty chemicals company’s stock valued at $4,573,000 after acquiring an additional 15,464 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Chemours by 22.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 13,023 shares of the specialty chemicals company’s stock valued at $453,000 after acquiring an additional 2,413 shares during the last quarter. Institutional investors and hedge funds own 72.39% of the company’s stock.
Several analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Chemours from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, November 8th. Zacks Investment Research downgraded shares of Chemours from a “strong-buy” rating to a “hold” rating and set a $37.00 price objective on the stock. in a report on Wednesday, January 5th. Finally, UBS Group increased their price target on shares of Chemours from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, January 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $39.89.
Chemours (NYSE:CC) last posted its quarterly earnings data on Thursday, November 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.28. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.58 billion. Chemours had a net margin of 6.51% and a return on equity of 72.01%. The company’s revenue was up 36.3% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. On average, equities analysts expect that The Chemours Company will post 4.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Monday, November 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, November 12th. Chemours’s payout ratio is 42.74%.
In other news, SVP David C. Shelton sold 9,886 shares of the stock in a transaction dated Thursday, December 2nd. The shares were sold at an average price of $29.74, for a total value of $294,009.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sameer Ralhan sold 17,482 shares of the stock in a transaction dated Thursday, December 2nd. The shares were sold at an average price of $29.85, for a total transaction of $521,837.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,336 shares of company stock worth $3,806,890. Insiders own 2.78% of the company’s stock.
Chemours Company Profile
The Chemours Co is a holding company that engages in the provision of performance chemicals. The firm deliver solutions, which include a range of industrial and chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, mining, and oil & gas.
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