Creative Planning lowered its position in Chemours Co (NYSE:CC) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,665 shares of the specialty chemicals company’s stock after selling 579 shares during the quarter. Creative Planning’s holdings in Chemours were worth $400,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC grew its stake in Chemours by 2.0% in the first quarter. FMR LLC now owns 24,912,740 shares of the specialty chemicals company’s stock valued at $925,757,000 after purchasing an additional 479,467 shares in the last quarter. LSV Asset Management grew its stake in Chemours by 19.9% in the first quarter. LSV Asset Management now owns 3,695,006 shares of the specialty chemicals company’s stock valued at $137,306,000 after purchasing an additional 613,100 shares in the last quarter. Geode Capital Management LLC grew its stake in Chemours by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 1,734,170 shares of the specialty chemicals company’s stock valued at $48,906,000 after purchasing an additional 58,490 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in Chemours in the first quarter valued at about $60,664,000. Finally, Dimensional Fund Advisors LP grew its stake 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 valued at $27,929,000 after purchasing an additional 27,651 shares in the last quarter. Hedge funds and other institutional investors own 75.60% of the company’s stock.
In other Chemours news, Director Mary B. Cranston acquired 1,790 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average price of $13.99 per share, with a total value of $25,042.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David C. Shelton acquired 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $13.82 per share, with a total value of $207,300.00. Following the transaction, the senior vice president now directly owns 98,269 shares in the company, valued at approximately $1,358,077.58. The disclosure for this purchase can be found here. Insiders have purchased a total of 77,790 shares of company stock valued at $1,490,412 in the last three months. 2.34% of the stock is owned by insiders.
Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.18). The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a return on equity of 71.90% and a net margin of 10.33%. The business’s revenue was down 22.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.71 EPS. On average, research analysts predict that Chemours Co will post 2.6 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 8.38%. Chemours’s dividend payout ratio (DPR) is presently 17.64%.
A number of research analysts have commented on CC shares. BMO Capital Markets lowered their target price on Chemours from $45.00 to $31.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. They noted that the move was a valuation call. Barclays restated a “buy” rating and issued a $42.00 target price on shares of Chemours in a research note on Monday, June 3rd. TheStreet downgraded Chemours from a “b-” rating to a “c+” rating in a research note on Friday, August 9th. Morgan Stanley set a $26.00 target price on Chemours and gave the company a “hold” rating in a research note on Wednesday, June 19th. Finally, ValuEngine downgraded Chemours from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.00.
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, 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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