HighTower Advisors LLC cut its stake in The Chemours Company (NYSE:CC – Get Rating) by 10.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,558 shares of the specialty chemicals company’s stock after selling 5,685 shares during the period. HighTower Advisors LLC’s holdings in Chemours were worth $1,486,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its holdings in shares of Chemours by 62.1% during the 4th quarter. SG Americas Securities LLC now owns 91,096 shares of the specialty chemicals company’s stock worth $2,789,000 after buying an additional 34,883 shares in the last quarter. Creative Planning raised its holdings in shares of Chemours by 11.5% during the 3rd quarter. Creative Planning now owns 13,222 shares of the specialty chemicals company’s stock worth $326,000 after buying an additional 1,368 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of Chemours by 108.5% during the 4th quarter. Natixis Advisors L.P. now owns 212,682 shares of the specialty chemicals company’s stock worth $6,513,000 after buying an additional 110,689 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Chemours by 39.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,605,528 shares of the specialty chemicals company’s stock worth $39,577,000 after buying an additional 452,857 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Chemours by 824.2% during the 3rd quarter. Prudential Financial Inc. now owns 691,017 shares of the specialty chemicals company’s stock worth $17,033,000 after buying an additional 616,244 shares in the last quarter. 71.89% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on CC. Royal Bank of Canada boosted their price objective on Chemours from $35.00 to $36.00 in a research report on Monday, May 1st. The Goldman Sachs Group upped their price target on Chemours from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, February 14th. Credit Suisse Group reduced their price target on Chemours from $27.00 to $25.00 in a research report on Friday, April 28th. StockNews.com lowered Chemours from a “buy” rating to a “hold” rating in a research report on Saturday, May 20th. Finally, Citigroup upped their price target on Chemours from $33.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.11.
Insider Buying and Selling
Chemours Stock Down 1.4 %
CC stock opened at $28.01 on Friday. The stock’s 50 day simple moving average is $29.08 and its 200 day simple moving average is $31.44. The Chemours Company has a fifty-two week low of $23.58 and a fifty-two week high of $44.95. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.98 and a current ratio of 1.84. The company has a market cap of $4.18 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87.
Chemours (NYSE:CC – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The specialty chemicals company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.36. Chemours had a return on equity of 53.44% and a net margin of 7.45%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business earned $1.46 EPS. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, research analysts expect that The Chemours Company will post 3.97 earnings per share for the current fiscal year.
Chemours Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Friday, May 12th. Chemours’s dividend payout ratio (DPR) is currently 32.26%.
The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.
- Get a free copy of the StockNews.com research report on Chemours (CC)
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