Chemours Co (CC) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP raised its holdings in Chemours Co (NYSE:CC) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 707,349 shares of the specialty chemicals company’s stock after purchasing an additional 7,604 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Chemours were worth $35,798,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Koch Industries Inc. bought a new position in Chemours in the 2nd quarter valued at $704,000. Public Employees Retirement System of Ohio raised its position in Chemours by 306.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 98,590 shares of the specialty chemicals company’s stock valued at $3,739,000 after purchasing an additional 74,329 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Chemours by 264.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 42,669 shares of the specialty chemicals company’s stock worth $1,618,000 after acquiring an additional 30,970 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Chemours by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 2,201,287 shares of the specialty chemicals company’s stock worth $110,969,000 after acquiring an additional 234,705 shares during the last quarter. Finally, Capital Growth Management LP bought a new stake in shares of Chemours during the third quarter worth $38,970,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.
Shares of Chemours Co (NYSE CC) opened at $52.47 on Friday. The firm has a market capitalization of $9,700.00 and a price-to-earnings ratio of 36.19. Chemours Co has a 52-week low of $23.39 and a 52-week high of $58.08. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.63 and a current ratio of 2.19.
Chemours (NYSE:CC) last released its earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share for the quarter, topping 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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. research analysts forecast that Chemours Co will post 3.65 EPS for the current year.
Chemours announced that its Board of Directors has approved a share repurchase program on Friday, December 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be paid a dividend of $0.17 per share. 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 dividend yield of 1.30%. Chemours’s payout ratio is 8.28%.
In related news, insider E Bryan Snell sold 11,878 shares of Chemours stock in a transaction on Monday, November 6th. The stock was sold at an average price of $53.25, for a total transaction of $632,503.50. Following the completion of the sale, the insider now directly owns 63,063 shares of the company’s stock, valued at $3,358,104.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christian W. Siemer sold 15,088 shares of Chemours stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total value of $714,718.56. The disclosure for this sale can be found here. 1.14% of the stock is owned by insiders.
CC has been the subject of a number of recent research reports. Jefferies Group boosted their target price on Chemours to $66.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research upgraded Chemours from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, November 9th. UBS Group boosted their target price on Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a research 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 research report on Monday, November 6th. Finally, Goldman Sachs Group downgraded Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Wednesday, December 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Chemours has an average rating of “Buy” and an average target price of $57.89.
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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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