NEXT Financial Group Inc grew its holdings in Chemours Co (NYSE:CC) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,160 shares of the specialty chemicals company’s stock after purchasing an additional 2,351 shares during the quarter. NEXT Financial Group Inc owned approximately 0.06% of Chemours worth $1,392,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Investors Research Corp grew its stake in shares of Chemours by 148.1% in the second quarter. Investors Research Corp now owns 1,206 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 720 shares in the last quarter. Cerebellum GP LLC grew its stake in shares of Chemours by 107.8% in the third quarter. Cerebellum GP LLC now owns 1,490 shares of the specialty chemicals company’s stock valued at $75,000 after buying an additional 773 shares in the last quarter. KBC Group NV grew its stake in shares of Chemours by 7.5% in the second quarter. KBC Group NV now owns 12,837 shares of the specialty chemicals company’s stock valued at $308,000 after buying an additional 894 shares in the last quarter. Whitener Capital Management Inc. grew its stake in shares of Chemours by 30.0% in the second quarter. Whitener Capital Management Inc. now owns 4,112 shares of the specialty chemicals company’s stock valued at $98,000 after buying an additional 950 shares in the last quarter. Finally, Andra AP fonden grew its stake in shares of Chemours by 0.8% in the second quarter. Andra AP fonden now owns 124,500 shares of the specialty chemicals company’s stock valued at $2,988,000 after buying an additional 1,000 shares in the last quarter. 79.88% of the stock is currently owned by institutional investors.
CC has been the subject of several analyst reports. TheStreet cut shares of Chemours from a “b-” rating to a “c+” rating in a research note on Friday, August 9th. SunTrust Banks lifted their price objective on shares of Chemours to $20.00 and gave the stock a “hold” rating in a research report on Wednesday. Royal Bank of Canada cut shares of Chemours from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $32.00 to $16.00 in a research report on Friday, August 9th. UBS Group reduced their price objective on shares of Chemours from $19.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, ValuEngine cut shares of Chemours from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Chemours presently has a consensus rating of “Hold” and a consensus price target of $27.14.
Chemours (NYSE:CC) last posted its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Chemours had a return on equity of 58.38% and a net margin of 7.24%. Chemours’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 earnings per share. As a group, research analysts anticipate that Chemours Co will post 2.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.08%. The ex-dividend date is Thursday, November 14th. Chemours’s payout ratio is 17.64%.
In other Chemours news, COO Mark Newman bought 20,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of $16.42 per share, with a total value of $328,400.00. Following the completion of the purchase, the chief operating officer now owns 114,261 shares in the company, valued at $1,876,165.62. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.34% of the stock is currently owned by insiders.
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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