ARGA Investment Management LP grew its holdings in shares of The Chemours Company (NYSE:CC - Free Report) by 61.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 147,582 shares of the specialty chemicals company's stock after buying an additional 55,903 shares during the period. ARGA Investment Management LP owned 0.10% of Chemours worth $2,999,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in Chemours by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 91,345 shares of the specialty chemicals company's stock valued at $2,399,000 after purchasing an additional 2,932 shares during the period. Linden Thomas Advisory Services LLC bought a new stake in shares of Chemours during the 2nd quarter valued at about $460,000. Bourgeon Capital Management LLC raised its stake in Chemours by 2.1% in the second quarter. Bourgeon Capital Management LLC now owns 71,750 shares of the specialty chemicals company's stock worth $1,619,000 after buying an additional 1,500 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Chemours in the second quarter worth about $529,000. Finally, Twelve Points Wealth Management LLC boosted its position in Chemours by 15.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 22,548 shares of the specialty chemicals company's stock valued at $509,000 after acquiring an additional 3,068 shares in the last quarter. Institutional investors own 76.26% of the company's stock.
CC has been the topic of several research reports. Barclays lifted their price objective on Chemours from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. BMO Capital Markets lifted their price objective on Chemours from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, October 7th. Morgan Stanley cut their price objective on Chemours from $30.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. UBS Group lowered their target price on shares of Chemours from $30.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group lowered their target price on shares of Chemours from $29.00 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Chemours has an average rating of "Hold" and a consensus target price of $24.88.
Check Out Our Latest Stock Analysis on Chemours
Shares of NYSE CC opened at $21.74 on Friday. The Chemours Company has a twelve month low of $15.10 and a twelve month high of $32.70. The firm has a market cap of $3.25 billion, a P/E ratio of 43.48 and a beta of 1.75. The company has a 50 day moving average of $19.71 and a 200 day moving average of $21.35. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05.
Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.08. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business earned $0.64 EPS. The firm's revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts expect that The Chemours Company will post 1.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.60%. Chemours's payout ratio is currently 200.00%.
In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the sale, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is owned by company insiders.
The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, 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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