Inspire Investing LLC Buys 1,995 Shares of The Chemours Company (NYSE:CC)

Inspire Investing LLC raised its stake in The Chemours Company (NYSE:CC) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,618 shares of the specialty chemicals company’s stock after buying an additional 1,995 shares during the quarter. Inspire Investing LLC’s holdings in Chemours were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Burney Co. raised its position in shares of Chemours by 0.3% in the 1st quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock valued at $5,174,000 after acquiring an additional 601 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Chemours by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 65,924 shares of the specialty chemicals company’s stock worth $2,079,000 after purchasing an additional 640 shares in the last quarter. Lavaca Capital LLC grew its holdings in shares of Chemours by 2.7% in the 1st quarter. Lavaca Capital LLC now owns 24,658 shares of the specialty chemicals company’s stock valued at $648,000 after buying an additional 641 shares during the period. Arizona State Retirement System increased its position in shares of Chemours by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock valued at $940,000 after buying an additional 863 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in Chemours by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 36,479 shares of the specialty chemicals company’s stock worth $958,000 after buying an additional 900 shares during the period. Institutional investors own 76.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CC. The Goldman Sachs Group lowered their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Barclays dropped their target price on shares of Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Mizuho began coverage on shares of Chemours in a report on Friday, June 7th. They issued a “neutral” rating and a $25.00 price target for the company. UBS Group dropped their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, BMO Capital Markets reduced their target price on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.75.

Chemours Stock Down 2.8 %

Chemours stock opened at $18.70 on Monday. The company has a fifty day simple moving average of $20.05 and a 200 day simple moving average of $23.88. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45. The Chemours Company has a 1-year low of $15.10 and a 1-year high of $32.70. The company has a market cap of $2.78 billion, a P/E ratio of -8.62 and a beta of 1.74.

Chemours (NYSE:CC) last released its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Chemours had a net margin of 2.16% and a return on equity of 33.21%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm posted $1.10 EPS. Chemours’s revenue was down 6.4% compared to the same quarter last year. Research analysts anticipate that The Chemours Company will post 1.33 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date was Thursday, August 15th. Chemours’s dividend payout ratio is currently -46.08%.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.