Sigma Planning Corp Boosts Position in Chemours Co (CC)
Sigma Planning Corp increased its stake in shares of Chemours Co (NYSE:CC) by 10.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 86,701 shares of the specialty chemicals company’s stock after acquiring an additional 8,239 shares during the period. Sigma Planning Corp’s holdings in Chemours were worth $4,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Chemours by 7.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,371,909 shares of the specialty chemicals company’s stock worth $120,042,000 after buying an additional 173,523 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Chemours by 11.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,201,287 shares of the specialty chemicals company’s stock worth $110,969,000 after buying an additional 234,705 shares during the last quarter. Victory Capital Management Inc. grew its stake in Chemours by 33.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,203,479 shares of the specialty chemicals company’s stock worth $60,246,000 after buying an additional 299,502 shares during the last quarter. Columbus Circle Investors grew its stake in Chemours by 173.2% during the 3rd quarter. Columbus Circle Investors now owns 1,022,466 shares of the specialty chemicals company’s stock worth $51,747,000 after buying an additional 648,200 shares during the last quarter. Finally, Ardevora Asset Management LLP bought a new position in Chemours during the 3rd quarter worth $40,351,000. Hedge funds and other institutional investors own 74.11% of the company’s stock.
In other news, insider Christian W. Siemer sold 15,088 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.14% of the company’s stock.
Chemours Co (NYSE:CC) opened at $46.46 on Friday. Chemours Co has a 52 week low of $27.54 and a 52 week high of $58.08. The stock has a market capitalization of $8,602.67, a price-to-earnings ratio of 32.04, a PEG ratio of 0.59 and a beta of 3.03. The company has a quick ratio of 1.63, a current ratio of 2.19 and a debt-to-equity ratio of 5.07.
Chemours declared that its board has initiated a stock buyback program on Friday, December 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th will be paid a $0.17 dividend. This is a boost from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.46%. Chemours’s dividend payout ratio is presently 8.28%.
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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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