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.
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%.
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.
Want to see what other hedge funds are holding CC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chemours Co (NYSE:CC).
Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.