15,500 Shares in Chemours Co (CC) Acquired by DnB Asset Management AS

DnB Asset Management AS purchased a new stake in Chemours Co (NYSE:CC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,500 shares of the specialty chemicals company’s stock, valued at approximately $776,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC raised its position in shares of Chemours by 3.4% in the second quarter. Acrospire Investment Management LLC now owns 3,076 shares of the specialty chemicals company’s stock valued at $117,000 after buying an additional 100 shares during the last quarter. Cypress Capital Management LLC raised its position in shares of Chemours by 0.5% in the second quarter. Cypress Capital Management LLC now owns 31,393 shares of the specialty chemicals company’s stock valued at $1,190,000 after buying an additional 155 shares during the last quarter. Zacks Investment Management raised its position in shares of Chemours by 1.6% in the second quarter. Zacks Investment Management now owns 62,894 shares of the specialty chemicals company’s stock valued at $2,385,000 after buying an additional 973 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Chemours by 0.7% in the third quarter. Mutual of America Capital Management LLC now owns 151,298 shares of the specialty chemicals company’s stock valued at $7,657,000 after buying an additional 1,036 shares during the last quarter. Finally, Smith Asset Management Group LP raised its position in shares of Chemours by 3.1% in the third quarter. Smith Asset Management Group LP now owns 44,489 shares of the specialty chemicals company’s stock valued at $2,252,000 after buying an additional 1,333 shares during the last quarter. 74.36% of the stock is currently owned by institutional investors.

In other news, insider E Bryan Snell sold 11,878 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $53.25, for a total value of $632,503.50. Following the completion of the sale, the insider now owns 63,063 shares of the company’s stock, valued at $3,358,104.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christian W. Siemer sold 15,088 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $47.37, for a total transaction of $714,718.56. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

A number of research firms have recently weighed in on CC. Zacks Investment Research lowered shares of Chemours from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 18th. UBS Group boosted their price objective on shares of Chemours from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Barclays boosted their price objective on shares of Chemours from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 6th. Jefferies Group boosted their price objective on shares of Chemours to $66.00 and gave the company a “buy” rating in a research report on Monday, December 4th. Finally, Goldman Sachs Group lowered shares of Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Wednesday, December 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $57.89.

Chemours Co (CC) opened at $51.00 on Wednesday. Chemours Co has a 52-week low of $23.92 and a 52-week high of $58.08. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.63 and a current ratio of 2.19. The company has a market cap of $9,715.51, a P/E ratio of 35.17, a P/E/G ratio of 0.68 and a beta of 3.37.

Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.01 by $0.11. Chemours had a net margin of 4.86% and a return on equity of 116.80%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. Chemours’s revenue for the quarter was up 13.3% compared to the same quarter last year. equities research analysts expect that Chemours Co will post 3.65 EPS for the current fiscal year.

Chemours announced that its board has initiated a stock repurchase program on Friday, December 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be given a dividend of $0.17 per share. This is a positive change from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.68 annualized dividend and a yield of 1.33%. Chemours’s dividend payout ratio is 8.28%.

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Chemours Company Profile

The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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