Inspire Investing LLC Raises Stock Holdings in The Chemours Company (NYSE:CC)

Inspire Investing LLC boosted its position in The Chemours Company (NYSE:CC) by 29.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,276 shares of the specialty chemicals company’s stock after purchasing an additional 4,658 shares during the quarter. Inspire Investing LLC’s holdings in Chemours were worth $412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Burney Co. boosted its position in shares of Chemours by 0.3% in the 1st quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock worth $5,174,000 after purchasing an additional 601 shares in the last quarter. Lavaca Capital LLC increased its position in Chemours by 2.7% during the 1st quarter. Lavaca Capital LLC now owns 24,658 shares of the specialty chemicals company’s stock valued at $648,000 after buying an additional 641 shares in the last quarter. Arizona State Retirement System raised its stake in Chemours by 2.1% during the second quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock valued at $940,000 after buying an additional 863 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Chemours by 2.5% in the first quarter. State of Michigan Retirement System now owns 36,479 shares of the specialty chemicals company’s stock worth $958,000 after acquiring an additional 900 shares in the last quarter. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of Chemours in the first quarter worth $29,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

CC has been the subject of several recent analyst reports. Royal Bank of Canada lowered their price target on Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. The Goldman Sachs Group dropped their target price on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 3rd. BMO Capital Markets raised their price target on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. UBS Group lowered their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, Barclays reduced their target price on Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.38.

Chemours Price Performance

NYSE CC opened at $19.76 on Friday. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -9.11 and a beta of 1.74. The Chemours Company has a 1-year low of $15.10 and a 1-year high of $32.70. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01. The business’s fifty day moving average price is $18.93 and its 200-day moving average price is $22.97.

Chemours (NYSE:CC) last posted its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 EPS. On average, equities analysts predict that The Chemours Company will post 1.32 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.06%. Chemours’s dividend payout ratio is currently -46.08%.

Chemours 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, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, 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.