39,921 Shares in Chemours Co (CC) Acquired by Aurora Investment Counsel
Aurora Investment Counsel acquired a new position in Chemours Co (NYSE:CC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 39,921 shares of the specialty chemicals company’s stock, valued at approximately $1,998,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its holdings in shares of Chemours by 40.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 138,898 shares of the specialty chemicals company’s stock worth $7,030,000 after purchasing an additional 40,308 shares during the last quarter. Gofen & Glossberg LLC IL acquired a new position in shares of Chemours during the 3rd quarter worth approximately $240,000. Moors & Cabot Inc. acquired a new position in shares of Chemours during the 3rd quarter worth approximately $290,000. Cetera Advisors LLC acquired a new position in shares of Chemours during the 3rd quarter worth approximately $204,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Chemours by 539.2% during the 3rd quarter. Sterling Capital Management LLC now owns 56,235 shares of the specialty chemicals company’s stock worth $2,846,000 after purchasing an additional 47,437 shares during the last quarter. Institutional investors own 74.34% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Chemours from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 18th. UBS Group boosted their target price on Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Barclays boosted their target price on Chemours from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 6th. Goldman Sachs Group cut Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Wednesday, December 6th. Finally, Jefferies Group boosted their target price on Chemours to $66.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $57.89.
Chemours Co (NYSE CC) opened at $51.12 on Friday. Chemours Co has a twelve month low of $20.82 and a twelve month high of $58.08. The company has a market capitalization of $9,519.24, a P/E ratio of 35.26, a P/E/G ratio of 0.66 and a beta of 3.37. The company has a debt-to-equity ratio of 5.07, a current ratio of 2.19 and a quick ratio of 1.63.
Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.11. Chemours had a return on equity of 116.80% and a net margin of 4.86%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. equities analysts anticipate that Chemours Co will post 3.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, February 14th. This is a boost from Chemours’s previous quarterly dividend of $0.03. This represents a $0.68 dividend on an annualized basis and a yield of 1.33%. Chemours’s dividend payout ratio is currently 8.28%.
Chemours announced that its Board of Directors has initiated a share repurchase plan on Friday, December 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, SVP David C. Shelton sold 5,908 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $56.01, for a total value of $330,907.08. Following the transaction, the senior vice president now directly owns 47,356 shares in the company, valued at $2,652,409.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David C. Shelton sold 13,397 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $55.00, for a total value of $736,835.00. The disclosure for this sale can be found here. Insiders sold 46,271 shares of company stock worth $2,414,964 over the last quarter. 1.14% of the stock is currently owned by insiders.
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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