Appian Way Asset Management LP Takes Position in The Chemours Company (NYSE:CC)

Appian Way Asset Management LP acquired a new stake in The Chemours Company (NYSE:CC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,680,673 shares of the specialty chemicals company’s stock, valued at approximately $34,151,000. Chemours comprises 7.7% of Appian Way Asset Management LP’s portfolio, making the stock its 5th biggest position. Appian Way Asset Management LP owned about 1.12% of Chemours at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Brooklyn Investment Group purchased a new position in Chemours during the 3rd quarter worth approximately $37,000. FMR LLC grew its position in shares of Chemours by 3.5% during 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 during the last quarter. Truvestments Capital LLC acquired a new position in shares of Chemours in the 3rd quarter valued at $35,000. Charles Schwab Investment Management Inc. raised its position in Chemours by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the specialty chemicals company’s stock valued at $24,974,000 after purchasing an additional 32,590 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Chemours during the 3rd quarter worth $207,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Performance

NYSE CC opened at $21.74 on Friday. The business has a 50 day moving average price of $19.65 and a 200 day moving average price of $21.39. 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 company has a market capitalization of $3.25 billion, a P/E ratio of 43.48 and a beta of 1.75. The Chemours Company has a 1-year low of $15.10 and a 1-year high of $32.70.

Chemours (NYSE:CC) last posted its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts expect that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group dropped their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 3rd. Royal Bank of Canada dropped their price objective on shares of 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 shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Barclays increased 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. Finally, Morgan Stanley reduced their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.88.

Insider Buying and Selling at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of Chemours 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 sale, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is owned by insiders.

About Chemours

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.