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

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

Other large investors have also added to or reduced their stakes in the company. Matrix Trust Co bought a new stake in Chemours during the third quarter worth about $25,000. Blue Trust Inc. boosted its holdings in Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 731 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Chemours during the third quarter valued at $35,000. Brooklyn Investment Group bought a new position in Chemours in the 3rd quarter worth about $37,000. Finally, Signaturefd LLC grew its position in Chemours by 163.7% during the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 1,216 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CC shares. UBS Group lowered their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. reduced their price objective on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. BMO Capital Markets upped their target price on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Morgan Stanley reduced their price target on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group lowered their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Chemours has an average rating of “Hold” and a consensus target price of $24.88.

Insider Buying and Selling at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the transaction, the senior vice president now directly owns 16,645 shares in the company, valued at $343,552.80. The trade was 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. Insiders own 0.47% of the company’s stock.

Chemours Stock Down 0.1 %

Shares of CC stock opened at $21.63 on Wednesday. The company has a 50 day simple moving average of $19.77 and a two-hundred day simple moving average of $21.19. The stock has a market cap of $3.23 billion, a P/E ratio of 43.26 and a beta of 1.80. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $32.70. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC) last announced its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. Chemours’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. On average, research analysts expect that The Chemours Company will post 1.35 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Friday, November 15th. Chemours’s payout ratio is 200.00%.

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.