CIBC Asset Management Inc Invests $242,000 in Chemours Co (CC)

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CIBC Asset Management Inc bought a new stake in shares of Chemours Co (NYSE:CC) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,505 shares of the specialty chemicals company’s stock, valued at approximately $242,000.

Several other institutional investors have also made changes to their positions in the stock. Aurora Investment Counsel raised its holdings in Chemours by 11.9% in the fourth quarter. Aurora Investment Counsel now owns 58,798 shares of the specialty chemicals company’s stock worth $1,659,000 after purchasing an additional 6,257 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Chemours by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 989,719 shares of the specialty chemicals company’s stock worth $27,929,000 after purchasing an additional 27,651 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in Chemours by 357.1% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,200 shares of the specialty chemicals company’s stock worth $90,000 after purchasing an additional 2,500 shares in the last quarter. Piedmont Investment Advisors Inc. raised its holdings in Chemours by 31.4% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 16,930 shares of the specialty chemicals company’s stock worth $478,000 after purchasing an additional 4,042 shares in the last quarter. Finally, HRT Financial LLC bought a new position in Chemours in the fourth quarter worth $908,000. Institutional investors own 80.12% of the company’s stock.

NYSE CC opened at $22.52 on Monday. Chemours Co has a 12 month low of $22.29 and a 12 month high of $51.90. The firm has a market capitalization of $3.69 billion, a PE ratio of 4.61, a P/E/G ratio of 0.34 and a beta of 2.20. The company has a debt-to-equity ratio of 5.18, a quick ratio of 1.04 and a current ratio of 1.81.

Chemours (NYSE:CC) last released its earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.30). Chemours had a return on equity of 87.75% and a net margin of 12.60%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company posted $1.41 earnings per share. The company’s revenue was down 20.5% on a year-over-year basis. As a group, equities analysts anticipate that Chemours Co will post 4.22 earnings per share for the current year.

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.44%. Chemours’s dividend payout ratio is currently 17.64%.

In related news, Director Bradley J. Bell bought 5,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average cost of $24.06 per share, with a total value of $120,300.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Susan M. Kelliher bought 6,500 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was bought at an average cost of $23.06 per share, for a total transaction of $149,890.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 91,924 shares of company stock worth $3,538,130. Insiders own 2.34% of the company’s stock.

A number of research firms have issued reports on CC. ValuEngine upgraded Chemours from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 20th. Citigroup reiterated a “buy” rating and issued a $43.00 price objective on shares of Chemours in a report on Wednesday, February 20th. Zacks Investment Research upgraded Chemours from a “sell” rating to a “hold” rating in a report on Monday, March 18th. SunTrust Banks upgraded Chemours from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $52.00 in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. downgraded Chemours from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $40.00 to $34.00 in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $46.00.

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Chemours Profile

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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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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