3,500 Shares in The Chemours Company (NYSE:CC) Acquired by SouthState Corp

SouthState Corp purchased a new stake in The Chemours Company (NYSE:CCGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,500 shares of the specialty chemicals company’s stock, valued at approximately $110,000.

Several other institutional investors also recently modified their holdings of the stock. AdvisorNet Financial Inc increased its holdings in shares of Chemours by 63.2% in the first quarter. AdvisorNet Financial Inc now owns 785 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 304 shares in the last quarter. Comerica Bank raised its stake in Chemours by 0.4% during the 1st quarter. Comerica Bank now owns 77,443 shares of the specialty chemicals company’s stock valued at $2,761,000 after purchasing an additional 326 shares during the period. AE Wealth Management LLC raised its stake in Chemours by 5.8% during the 1st quarter. AE Wealth Management LLC now owns 6,614 shares of the specialty chemicals company’s stock valued at $208,000 after purchasing an additional 361 shares during the period. Versor Investments LP raised its stake in Chemours by 1.4% during the 4th quarter. Versor Investments LP now owns 38,944 shares of the specialty chemicals company’s stock valued at $1,307,000 after purchasing an additional 543 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in Chemours by 274.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,014 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 743 shares during the period. Institutional investors own 76.38% of the company’s stock.

Analyst Upgrades and Downgrades

CC has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Chemours from $37.00 to $46.00 in a research note on Monday, May 9th. Royal Bank of Canada boosted their target price on shares of Chemours from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, August 1st. Bank of America downgraded shares of Chemours from a “buy” rating to a “neutral” rating and cut their target price for the company from $48.00 to $44.00 in a research note on Tuesday, June 14th. UBS Group boosted their price target on shares of Chemours from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Finally, Citigroup boosted their price target on shares of Chemours from $32.00 to $36.00 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.17.

Chemours Trading Down 1.3 %

Shares of NYSE:CC opened at $34.49 on Friday. The stock has a market capitalization of $5.35 billion, a PE ratio of 6.43, a P/E/G ratio of 0.44 and a beta of 1.82. The Chemours Company has a 1 year low of $22.56 and a 1 year high of $44.95. The firm has a fifty day moving average price of $34.93 and a 200 day moving average price of $33.71. The company has a current ratio of 1.91, a quick ratio of 1.27 and a debt-to-equity ratio of 3.01.

Chemours (NYSE:CCGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Chemours had a net margin of 12.72% and a return on equity of 79.77%. Chemours’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. Analysts expect that The Chemours Company will post 5.53 EPS for the current fiscal year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, August 12th. Chemours’s dividend payout ratio (DPR) is 18.66%.

Insider Buying and Selling at Chemours

In other Chemours news, CFO Sameer Ralhan sold 20,175 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $40.01, for a total transaction of $807,201.75. Following the completion of the sale, the chief financial officer now directly owns 313,506 shares in the company, valued at $12,543,375.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Sameer Ralhan sold 20,175 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $40.01, for a total transaction of $807,201.75. Following the completion of the transaction, the chief financial officer now owns 313,506 shares of the company’s stock, valued at $12,543,375.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edwin C. Sparks sold 22,142 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $43.59, for a total transaction of $965,169.78. Following the transaction, the insider now directly owns 101,038 shares of the company’s stock, valued at approximately $4,404,246.42. The disclosure for this sale can be found here. Corporate insiders own 3.04% of the company’s stock.

Chemours Company Profile

(Get Rating)

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, 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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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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