The Chemours Company (NYSE:CC) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of The Chemours Company (NYSE:CC) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,491,748 shares of the specialty chemicals company’s stock after acquiring an additional 28,803 shares during the period. Geode Capital Management LLC owned approximately 1.67% of Chemours worth $50,646,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CC. Appian Way Asset Management LP purchased a new stake in shares of Chemours in the third quarter valued at about $34,151,000. Vision One Management Partners LP acquired a new stake in Chemours in the third quarter valued at about $28,252,000. Marshall Wace LLP boosted its holdings in Chemours by 23.8% in the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after purchasing an additional 1,347,710 shares in the last quarter. Khrom Capital Management LLC increased its position in Chemours by 54.6% during the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after purchasing an additional 1,220,967 shares during the period. Finally, Scopia Capital Management LP purchased a new position in shares of Chemours during the 3rd quarter worth approximately $13,623,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Trading Up 1.4 %

Shares of Chemours stock opened at $17.72 on Monday. 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. The business has a 50 day moving average price of $19.72 and a 200 day moving average price of $20.57. The company has a market capitalization of $2.65 billion, a P/E ratio of 35.44 and a beta of 1.80.

Chemours (NYSE:CC) last issued its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 earnings per share. Sell-side analysts anticipate that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend was Friday, November 15th. Chemours’s dividend payout ratio is presently 200.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. The Goldman Sachs Group decreased their price target on 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 upped their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Barclays upped their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley decreased their price target on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.88.

Insider Activity at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. This 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 the SEC website. Insiders own 0.47% of the company’s stock.

About Chemours

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.