Quest Partners LLC Acquires 7,855 Shares of The Chemours Company (NYSE:CC)

Quest Partners LLC increased its stake in The Chemours Company (NYSE:CC) by 7,206.4% during the 3rd quarter, Holdings Channel reports. The firm owned 7,964 shares of the specialty chemicals company’s stock after purchasing an additional 7,855 shares during the quarter. Quest Partners LLC’s holdings in Chemours were worth $162,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Coastline Trust Co purchased a new stake in Chemours during the third quarter valued at about $124,000. KBC Group NV boosted its stake in shares of Chemours by 19.5% during the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock valued at $91,000 after purchasing an additional 728 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Chemours in the 3rd quarter worth $285,000. Victory Capital Management Inc. raised its position in Chemours by 206.2% during the 3rd quarter. Victory Capital Management Inc. now owns 103,259 shares of the specialty chemicals company’s stock valued at $2,098,000 after purchasing an additional 69,531 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Chemours in the third quarter worth $1,615,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares in the company, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Chemours Trading Down 0.5 %

Chemours stock opened at $21.82 on Friday. The business has a 50-day simple moving average of $19.60 and a two-hundred day simple moving average of $21.39. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. The company has a market cap of $3.26 billion, a P/E ratio of 43.64 and a beta of 1.75. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $32.70.

Chemours (NYSE:CC) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating 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 company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned $0.64 earnings per share. Chemours’s quarterly revenue was up .9% compared to the same quarter last year. Analysts predict that The Chemours Company will post 1.35 EPS for the current year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.58%. Chemours’s dividend payout ratio (DPR) is presently 200.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CC shares. BMO Capital Markets upped 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. JPMorgan Chase & Co. lowered their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. UBS Group dropped their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group reduced their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Finally, Morgan Stanley reduced their price objective on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.