American Century Companies Inc. trimmed its position in Chemours Co (NYSE:CC) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,364 shares of the specialty chemicals company’s stock after selling 3,490 shares during the period. American Century Companies Inc.’s holdings in Chemours were worth $8,929,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in CC. Macquarie Group Ltd. acquired a new stake in shares of Chemours in the 2nd quarter valued at approximately $2,173,000. Public Employees Retirement System of Ohio raised its position in shares of Chemours by 306.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 98,590 shares of the specialty chemicals company’s stock valued at $3,739,000 after acquiring an additional 74,329 shares during the period. Balasa Dinverno & Foltz LLC acquired a new stake in shares of Chemours in the 3rd quarter valued at approximately $331,000. Assenagon Asset Management S.A. acquired a new stake in shares of Chemours in the 3rd quarter valued at approximately $12,270,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Chemours in the 3rd quarter valued at approximately $842,000. Institutional investors and hedge funds own 74.10% of the company’s stock.
Shares of Chemours Co (CC) opened at $48.84 on Monday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.63 and a current ratio of 2.12. The company has a market cap of $9,030.00 and a P/E ratio of 12.52. Chemours Co has a fifty-two week low of $32.09 and a fifty-two week high of $58.08.
Chemours announced that its board has initiated a share buyback 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 purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, February 14th. This is an increase from Chemours’s previous quarterly dividend of $0.03. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.39%. Chemours’s dividend payout ratio (DPR) is 17.44%.
In other news, insider Christian W. Siemer sold 15,088 shares of Chemours stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.37, for a total value of $714,718.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.14% of the stock is owned by company insiders.
A number of analysts recently weighed in on CC shares. Barclays reiterated a “buy” rating and issued a $60.00 price target on shares of Chemours in a research report on Wednesday, December 6th. Jefferies Group raised their target price on shares of Chemours to $66.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Zacks Investment Research upgraded shares of Chemours from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, November 9th. Morgan Stanley started coverage on shares of Chemours in a report on Tuesday, January 30th. They set an “equal weight” rating and a $57.50 target price on the stock. Finally, Goldman Sachs Group downgraded shares of Chemours from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Wednesday, December 6th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Chemours has an average rating of “Buy” and a consensus target price of $57.85.
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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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