Mitsubishi UFJ Trust & Banking Corp reduced its position in The Chemours Company (NYSE:CC – Get Rating) by 12.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,590 shares of the specialty chemicals company’s stock after selling 3,600 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Chemours were worth $806,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of CC. Spire Wealth Management increased its holdings in shares of Chemours by 29.6% in the 1st quarter. Spire Wealth Management now owns 3,674 shares of the specialty chemicals company’s stock valued at $116,000 after acquiring an additional 840 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in Chemours by 15.6% during the first quarter. 180 Wealth Advisors LLC now owns 11,881 shares of the specialty chemicals company’s stock valued at $420,000 after purchasing an additional 1,603 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Chemours by 8.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,804,090 shares of the specialty chemicals company’s stock worth $56,793,000 after purchasing an additional 138,945 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Chemours by 56.5% in the 4th quarter. JPMorgan Chase & Co. now owns 445,700 shares of the specialty chemicals company’s stock worth $14,957,000 after buying an additional 160,996 shares during the last quarter. Finally, Prospera Financial Services Inc acquired a new position in shares of Chemours in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 70.86% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CC shares. StockNews.com upgraded shares of Chemours from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 29th. Royal Bank of Canada raised their price target on Chemours from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, August 1st. Citigroup upped their price objective on Chemours to $36.00 in a research note on Tuesday, August 9th. Barclays raised their target price on Chemours from $37.00 to $46.00 in a research note on Monday, May 9th. Finally, UBS Group increased their price objective on shares of Chemours from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Chemours currently has a consensus rating of “Moderate Buy” and an average price target of $40.17.
Chemours Trading Down 0.5 %
Chemours (NYSE:CC – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The specialty chemicals company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.47. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Chemours had a net margin of 12.72% and a return on equity of 79.77%. The company’s revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 earnings per share. As a group, research analysts expect that The Chemours Company will post 5.6 EPS for the current year.
Chemours Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.01%. Chemours’s dividend payout ratio is presently 18.66%.
The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.
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