First Trust Advisors LP Acquires 429,442 Shares of Chemours Co (NYSE:CC)

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First Trust Advisors LP increased its holdings in Chemours Co (NYSE:CC) by 240.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 608,244 shares of the specialty chemicals company’s stock after acquiring an additional 429,442 shares during the quarter. First Trust Advisors LP owned about 0.37% of Chemours worth $11,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. State of Michigan Retirement System increased its stake in shares of Chemours by 1.5% in the 4th quarter. State of Michigan Retirement System now owns 48,100 shares of the specialty chemicals company’s stock worth $870,000 after acquiring an additional 700 shares in the last quarter. AMG National Trust Bank increased its stake in shares of Chemours by 2.3% in the 3rd quarter. AMG National Trust Bank now owns 32,250 shares of the specialty chemicals company’s stock worth $482,000 after acquiring an additional 712 shares in the last quarter. Cerebellum GP LLC increased its stake in shares of Chemours by 107.8% in the 3rd quarter. Cerebellum GP LLC now owns 1,490 shares of the specialty chemicals company’s stock worth $75,000 after acquiring an additional 773 shares in the last quarter. Brandywine Oak Private Wealth LLC increased its stake in shares of Chemours by 2.6% in the 3rd quarter. Brandywine Oak Private Wealth LLC now owns 33,820 shares of the specialty chemicals company’s stock worth $505,000 after acquiring an additional 844 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Chemours by 41.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,782 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 1,113 shares in the last quarter. Institutional investors own 75.80% of the company’s stock.

Shares of CC stock opened at $19.37 on Friday. Chemours Co has a one year low of $11.71 and a one year high of $41.60. The company’s 50-day moving average is $16.20 and its 200 day moving average is $15.86. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 6.27, a price-to-earnings-growth ratio of 0.33 and a beta of 2.59. The company has a debt-to-equity ratio of 5.05, a quick ratio of 0.98 and a current ratio of 1.72.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, February 13th. The specialty chemicals company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a negative net margin of 0.92% and a positive return on equity of 50.52%. As a group, research analysts predict that Chemours Co will post 3.1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend is Wednesday, February 26th. Chemours’s payout ratio is presently 39.84%.

CC has been the topic of several recent analyst reports. ValuEngine raised shares of Chemours from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut their price objective on shares of Chemours from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reissued a “hold” rating and set a $19.00 price objective on shares of Chemours in a research report on Sunday, December 22nd. SunTrust Banks increased their price objective on shares of Chemours to $20.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Cfra raised shares of Chemours from a “buy” rating to a “strong-buy” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $23.15.

In other news, CEO Mark P. Vergnano sold 220,759 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $16.00, for a total transaction of $3,532,144.00. Following the sale, the chief executive officer now owns 398,937 shares of the company’s stock, valued at approximately $6,382,992. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.34% of the company’s stock.

Chemours Company 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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