Creative Planning Has $899,000 Stock Position in The Chemours Company (NYSE:CC)

Creative Planning boosted its position in shares of The Chemours Company (NYSE:CC) by 66.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,228 shares of the specialty chemicals company’s stock after purchasing an additional 17,682 shares during the quarter. Creative Planning’s holdings in Chemours were worth $899,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Chemours by 169.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,105 shares of the specialty chemicals company’s stock worth $1,009,000 after purchasing an additional 22,067 shares during the last quarter. Khrom Capital Management LLC increased its stake in shares of Chemours by 54.6% in the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock valued at $78,016,000 after acquiring an additional 1,220,967 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Chemours in the 1st quarter valued at about $1,764,000. Edgestream Partners L.P. bought a new stake in shares of Chemours in the 1st quarter valued at about $1,228,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Chemours in the 2nd quarter valued at about $789,000. 76.26% of the stock is owned by institutional investors.

Chemours Trading Down 1.9 %

Shares of Chemours stock opened at $17.82 on Friday. The business has a fifty day simple moving average of $18.95 and a two-hundred day simple moving average of $22.28. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 22.00 and a beta of 1.74. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.19). Chemours had a net margin of 2.16% and a return on equity of 33.21%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business earned $1.10 EPS. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. Research analysts forecast that The Chemours Company will post 1.32 EPS for the current year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.61%. The ex-dividend date is Friday, November 15th. Chemours’s payout ratio is 123.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CC shares. JPMorgan Chase & Co. lowered their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada lowered their target price on Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Barclays lowered their target price on Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. The Goldman Sachs Group lowered their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Finally, UBS Group lowered their target price on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.00.

About Chemours

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.