Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Chemours Co (NYSE:CC) by 77.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 19,308 shares of the specialty chemicals company’s stock after buying an additional 8,446 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Chemours were worth $717,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in CC. Cullen Frost Bankers Inc. acquired a new stake in shares of Chemours in the 1st quarter valued at $26,000. Enterprise Financial Services Corp raised its holdings in shares of Chemours by 306.5% in the 1st quarter. Enterprise Financial Services Corp now owns 935 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 705 shares in the last quarter. Legacy Bridge LLC raised its holdings in shares of Chemours by 100.0% in the 1st quarter. Legacy Bridge LLC now owns 1,200 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 600 shares in the last quarter. Country Trust Bank purchased a new position in shares of Chemours in the 1st quarter valued at $51,000. Finally, TCI Wealth Advisors Inc. grew its position in shares of Chemours by 27.5% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,916 shares of the specialty chemicals company’s stock valued at $71,000 after buying an additional 413 shares during the last quarter. Institutional investors own 80.12% of the company’s stock.
In other Chemours news, CEO Mark P. Vergnano acquired 44,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 116,600 shares of the company’s stock, valued at approximately $2,701,622. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy Trojanowski sold 10,129 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $39.10, for a total transaction of $396,043.90. Following the transaction, the vice president now directly owns 54,795 shares in the company, valued at $2,142,484.50. The disclosure for this sale can be found here. Insiders have acquired a total of 55,500 shares of company stock worth $1,289,670 over the last three months. 2.34% of the stock is currently owned by insiders.
Chemours (NYSE:CC) last posted its 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 company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business earned $1.41 earnings per share. The company’s quarterly revenue was down 20.5% on a year-over-year basis. On average, research analysts forecast that Chemours Co will post 4.22 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.35%. The ex-dividend date is Wednesday, May 15th. Chemours’s payout ratio is currently 17.64%.
A number of research analysts recently commented on CC shares. SunTrust Banks raised shares of Chemours from a “hold” rating to a “buy” rating and increased their target price for the company from $40.00 to $52.00 in a research report on Monday, April 15th. Citigroup reaffirmed a “buy” rating and issued a $43.00 target price on shares of Chemours in a research report on Wednesday, February 20th. Jefferies Financial Group dropped their target price on shares of Chemours from $48.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday. Barclays reaffirmed a “buy” rating and issued a $42.00 target price on shares of Chemours in a research report on Monday, June 3rd. Finally, ValuEngine raised shares of Chemours from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Chemours presently has a consensus rating of “Buy” and a consensus target price of $43.80.
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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