Chemours Company (The) (CC) Holdings Lifted by JPMorgan Chase & Co.
JPMorgan Chase & Co. raised its position in Chemours Company (The) (NYSE:CC) by 11.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,201,287 shares of the specialty chemicals company’s stock after buying an additional 234,705 shares during the period. JPMorgan Chase & Co. owned about 1.19% of Chemours worth $110,969,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CC. Acrospire Investment Management LLC increased its holdings in 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 in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Chemours by 2,138.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,112 shares of the specialty chemicals company’s stock valued at $118,000 after buying an additional 2,973 shares in the last quarter. Smithfield Trust Co. increased its holdings in Chemours by 521.4% in the second quarter. Smithfield Trust Co. now owns 4,791 shares of the specialty chemicals company’s stock valued at $182,000 after buying an additional 4,020 shares in the last quarter. Alps Advisors Inc. purchased a new position in Chemours in the second quarter valued at $202,000. Finally, Gamco Investors INC. ET AL purchased a new position in Chemours in the third quarter valued at $202,000. 74.42% of the stock is owned by institutional investors.
Several analysts have recently issued reports on the stock. 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 lifted their target price 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 lifted their target price 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. BidaskClub upgraded shares of Chemours from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, Argus reiterated a “buy” rating and issued a $55.00 target price (up previously from $50.00) on shares of Chemours in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $53.89.
Shares of Chemours Company (CC) opened at $51.84 on Monday. Chemours Company has a 52-week low of $20.76 and a 52-week high of $58.08. The stock has a market cap of $9,598.86, a PE ratio of 18.38, a PEG ratio of 0.90 and a beta of 3.38. The company has a debt-to-equity ratio of 5.07, a current ratio of 2.19 and a quick ratio of 1.63.
Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 earnings per share 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 analyst estimates of $1.59 billion. Chemours had a net margin of 4.86% and a return on equity of 116.80%. Chemours’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share. sell-side analysts forecast that Chemours Company will post 3.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, November 20th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, November 17th. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. Chemours’s payout ratio is presently 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.
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