Raymond James & Associates raised its position in shares of Chemours Co (NYSE:CC) by 329.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,234 shares of the specialty chemicals company’s stock after purchasing an additional 47,749 shares during the period. Raymond James & Associates’ holdings in Chemours were worth $2,313,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Live Your Vision LLC boosted its position in shares of Chemours by 6.3% during the first quarter. Live Your Vision LLC now owns 4,993 shares of the specialty chemicals company’s stock worth $198,000 after buying an additional 295 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Chemours by 1.0% during the first quarter. Gulf International Bank UK Ltd now owns 40,350 shares of the specialty chemicals company’s stock worth $1,499,000 after purchasing an additional 400 shares during the period. TCI Wealth Advisors Inc. increased its stake in shares of Chemours by 27.5% during the first quarter. TCI Wealth Advisors Inc. now owns 1,916 shares of the specialty chemicals company’s stock worth $71,000 after purchasing an additional 413 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Chemours by 2.2% during the first quarter. Crossmark Global Holdings Inc. now owns 23,040 shares of the specialty chemicals company’s stock worth $856,000 after purchasing an additional 500 shares during the period. Finally, Legacy Bridge LLC grew its position in Chemours by 100.0% during the first quarter. Legacy Bridge LLC now owns 1,200 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 600 shares in the last quarter. 80.12% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on CC shares. ValuEngine downgraded Chemours from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reduced their price target on Chemours to $43.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. JPMorgan Chase & Co. downgraded Chemours from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $40.00 to $34.00 in a report on Monday, May 6th. SunTrust Banks raised Chemours from a “hold” rating to a “buy” rating and raised their target price for the company from $40.00 to $52.00 in a report on Monday, April 15th. Finally, Citigroup reaffirmed a “buy” rating and issued a $43.00 target price on shares of Chemours in a report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $43.80.
Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.30). Chemours had a net margin of 12.60% and a return on equity of 87.75%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The firm’s revenue was down 20.5% on a year-over-year basis. As a group, equities analysts forecast that Chemours Co will post 4.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Wednesday, May 15th. Chemours’s payout ratio is 17.64%.
In related news, VP Amy Trojanowski sold 9,049 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $39.10, for a total transaction of $353,815.90. Following the completion of the transaction, the vice president now directly owns 54,795 shares of the company’s stock, valued at approximately $2,142,484.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark P. Vergnano bought 44,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were bought at an average cost of $23.17 per share, with a total value of $1,019,480.00. Following the completion of the transaction, the chief executive officer now owns 116,600 shares in the company, valued at $2,701,622. The disclosure for this purchase can be found here. Insiders bought a total of 55,500 shares of company stock valued at $1,289,670 over the last quarter. 2.34% of the stock is owned by corporate 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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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