Two Sigma Advisers LP raised its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 503,100 shares of the specialty chemicals company's stock after purchasing an additional 43,200 shares during the quarter. Two Sigma Advisers LP owned approximately 0.34% of Chemours worth $10,223,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in CC. Matrix Trust Co bought a new stake in shares of Chemours during the 3rd quarter valued at $25,000. Blue Trust Inc. lifted its position in Chemours by 166.9% during the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 731 shares during the period. Truvestments Capital LLC purchased a new stake in Chemours in the third quarter worth about $35,000. Brooklyn Investment Group bought a new position in shares of Chemours during the third quarter valued at approximately $37,000. Finally, Signaturefd LLC lifted its holdings in shares of Chemours by 163.7% during the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company's stock valued at $40,000 after purchasing an additional 1,216 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.
In other news, SVP Alvenia Scarborough sold 7,500 shares of Chemours 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 transaction, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. This trade represents a 31.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.47% of the company's stock.
CC has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on Chemours from $28.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. Barclays raised their price target on Chemours from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. The Goldman Sachs Group dropped their price target on shares of Chemours from $29.00 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 3rd. BMO Capital Markets raised their price objective on shares of Chemours from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, October 7th. Finally, Morgan Stanley dropped their target price on shares of Chemours from $30.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $24.88.
Read Our Latest Stock Report on CC
Shares of NYSE CC opened at $21.72 on Tuesday. The firm's 50-day moving average price is $19.90 and its 200-day moving average price is $20.95. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $32.70. The company has a market cap of $3.25 billion, a PE ratio of 43.44 and a beta of 1.80. 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 posted its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The firm's revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, analysts anticipate that The Chemours Company will post 1.35 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Friday, November 15th. Chemours's dividend payout ratio is 200.00%.
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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