DnB Asset Management AS Takes Position in Chemours Co (CC)

DnB Asset Management AS acquired a new stake in Chemours Co (NYSE:CC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,500 shares of the specialty chemicals company’s stock, valued at approximately $776,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Acrospire Investment Management LLC increased its stake in shares of Chemours by 3.4% during the second quarter. Acrospire Investment Management LLC now owns 3,076 shares of the specialty chemicals company’s stock worth $117,000 after acquiring an additional 100 shares during the period. Gamco Investors INC. ET AL acquired a new position in shares of Chemours during the third quarter worth about $202,000. Bell Bank acquired a new position in shares of Chemours during the third quarter worth about $202,000. First Allied Advisory Services Inc. acquired a new position in shares of Chemours during the third quarter worth about $202,000. Finally, First Republic Investment Management Inc. acquired a new position in shares of Chemours during the third quarter worth about $203,000. Institutional investors own 74.36% of the company’s stock.

In other Chemours news, insider E Bryan Snell sold 11,878 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $53.25, for a total value of $632,503.50. Following the sale, the insider now owns 63,063 shares of the company’s stock, valued at $3,358,104.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christian W. Siemer sold 15,088 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were 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. 1.14% of the stock is currently owned by insiders.

A number of research analysts have recently issued reports on CC shares. Zacks Investment Research upgraded shares of Chemours from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research note on Tuesday, October 3rd. UBS Group boosted their price target on shares of Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Barclays boosted their price target on shares of Chemours from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, November 6th. Jefferies Group boosted their price target on shares of Chemours to $66.00 and gave the stock a “buy” rating in a research note 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 on the stock. in a research note on Wednesday, December 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $57.89.

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

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.11. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.59 billion. Chemours had a net margin of 4.86% and a return on equity of 116.80%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. analysts forecast that Chemours Co will post 3.65 EPS for the current year.

Chemours announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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