Advisors Asset Management Inc. Invests $1.94 Million in The Chemours Company (NYSE:CC)

Advisors Asset Management Inc. purchased a new stake in shares of The Chemours Company (NYSE:CC) during the third quarter, Holdings Channel.com reports. The firm purchased 95,402 shares of the specialty chemicals company’s stock, valued at approximately $1,939,000.

Several other hedge funds have also made changes to their positions in the company. Matrix Trust Co acquired a new stake in Chemours during the 3rd quarter valued at $25,000. Blue Trust Inc. grew its holdings in shares of Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in Chemours during the first quarter valued at $29,000. Signaturefd LLC lifted its stake in Chemours by 163.7% in the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Chemours during the 2nd quarter worth about $58,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

Shares of NYSE:CC opened at $21.53 on Monday. The stock has a market capitalization of $3.22 billion, a P/E ratio of 43.06 and a beta of 1.75. The business has a 50-day moving average of $19.39 and a two-hundred day moving average of $21.48. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week 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 earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts predict that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.64%. Chemours’s payout ratio is presently 200.00%.

Insider Buying and Selling

In other news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the sale, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CC shares. Barclays upped their target price on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley cut their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group reduced their price objective on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, BMO Capital Markets raised their price target on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.88.

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.