Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in The Chemours Company (NYSE:CC – Get Rating) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,087 shares of the specialty chemicals company’s stock after acquiring an additional 516 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Chemours were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CC. Raymond James & Associates raised its position in Chemours by 31.0% in the first quarter. Raymond James & Associates now owns 135,617 shares of the specialty chemicals company’s stock valued at $4,269,000 after purchasing an additional 32,121 shares during the period. Cetera Advisor Networks LLC raised its position in Chemours by 21.3% in the first quarter. Cetera Advisor Networks LLC now owns 9,636 shares of the specialty chemicals company’s stock valued at $303,000 after purchasing an additional 1,695 shares during the period. Bank of Montreal Can raised its position in Chemours by 36.4% in the first quarter. Bank of Montreal Can now owns 73,197 shares of the specialty chemicals company’s stock valued at $2,361,000 after purchasing an additional 19,552 shares during the period. D.A. Davidson & CO. purchased a new stake in shares of Chemours during the first quarter worth about $208,000. Finally, MetLife Investment Management LLC increased its position in shares of Chemours by 35.7% during the first quarter. MetLife Investment Management LLC now owns 107,133 shares of the specialty chemicals company’s stock worth $3,373,000 after acquiring an additional 28,160 shares during the last quarter. Institutional investors and hedge funds own 71.89% of the company’s stock.
Chemours Stock Performance
Shares of CC stock opened at $33.72 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 2.73. The business has a 50 day moving average of $31.67 and a two-hundred day moving average of $31.64. The Chemours Company has a 52 week low of $22.56 and a 52 week high of $44.95. The company has a market cap of $5.09 billion, a P/E ratio of 6.01, a PEG ratio of 0.67 and a beta of 1.84.
Chemours (NYSE:CC – Get Rating) last issued its earnings results on Tuesday, October 25th. The specialty chemicals company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. Chemours had a return on equity of 73.45% and a net margin of 12.91%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. Chemours’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that The Chemours Company will post 4.74 EPS for the current year.
Chemours Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.97%. Chemours’s dividend payout ratio is presently 17.83%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on CC shares. Argus lowered Chemours from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Barclays lifted their target price on Chemours from $30.00 to $34.00 in a research report on Tuesday, November 1st. Morgan Stanley dropped their target price on Chemours from $41.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 25th. UBS Group boosted their price objective on Chemours from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 11th. Finally, Royal Bank of Canada lowered Chemours from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $35.00 to $33.00 in a report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.90.
The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.
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