KBC Group NV Acquires 728 Shares of The Chemours Company (NYSE:CC)

KBC Group NV increased its holdings in The Chemours Company (NYSE:CC) by 19.5% during the third quarter, Holdings Channel reports. The firm owned 4,468 shares of the specialty chemicals company’s stock after acquiring an additional 728 shares during the quarter. KBC Group NV’s holdings in Chemours were worth $91,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CC. Burney Co. grew its position in shares of Chemours by 0.3% during the first quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock valued at $5,174,000 after purchasing an additional 601 shares in the last quarter. Lavaca Capital LLC grew its holdings 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. Blue Trust Inc. increased its stake in Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 731 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Chemours by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after acquiring an additional 863 shares in the last quarter. Finally, New Covenant Trust Company N.A. bought a new position in shares of Chemours during the 1st quarter valued at approximately $29,000. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CC shares. The Goldman Sachs Group decreased their price target 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. Morgan Stanley decreased their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada dropped their price target on Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Barclays upped their price objective on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets lifted their target price on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $24.88.

Chemours Stock Up 3.5 %

Shares of NYSE:CC opened at $21.52 on Friday. The firm has a market capitalization of $3.22 billion, a PE ratio of 43.04 and a beta of 1.75. The business has a 50 day simple moving average of $19.32 and a two-hundred day simple moving average of $21.61. 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 6.05, a current ratio of 1.73 and a quick ratio of 0.92.

Chemours (NYSE:CC) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business earned $0.64 EPS. Chemours’s revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that The Chemours Company will post 1.35 EPS for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.65%. The ex-dividend date is Friday, November 15th. Chemours’s dividend payout ratio is presently 200.00%.

Insider Activity at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the transaction, the senior vice president now owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

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.