Victory Capital Management Inc. Acquires 69,531 Shares of The Chemours Company (NYSE:CC)

Victory Capital Management Inc. grew its stake in The Chemours Company (NYSE:CC) by 206.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,259 shares of the specialty chemicals company’s stock after acquiring an additional 69,531 shares during the period. Victory Capital Management Inc. owned 0.07% of Chemours worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CC. Matrix Trust Co acquired a new position in Chemours in the third quarter valued at approximately $25,000. Blue Trust Inc. lifted its stake in shares of Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 731 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of Chemours in the 1st quarter worth $29,000. Signaturefd LLC grew its stake in shares of Chemours by 163.7% during the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 1,216 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in Chemours in the second quarter valued at about $58,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Price Performance

CC stock opened at $21.53 on Monday. The company’s 50-day moving average price is $19.39 and its two-hundred day moving average price is $21.48. The firm has a market cap of $3.22 billion, a P/E ratio of 43.06 and a beta of 1.75. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $32.70.

Chemours (NYSE:CC) last posted its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. On average, analysts anticipate that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Friday, November 15th. Chemours’s dividend payout ratio is currently 200.00%.

Insider Activity at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the transaction, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Morgan Stanley dropped their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. The Goldman Sachs Group reduced their price target on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. UBS Group cut their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their target price on Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Chemours presently has an average rating of “Hold” and an average target price of $24.88.

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.