The Chemours Company (NYSE:CC) Shares Purchased by Barclays PLC

Barclays PLC boosted its holdings in shares of The Chemours Company (NYSE:CC) by 28.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,549 shares of the specialty chemicals company’s stock after acquiring an additional 23,766 shares during the period. Barclays PLC owned about 0.07% of Chemours worth $2,185,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in Chemours by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,453 shares of the specialty chemicals company’s stock valued at $36,258,000 after buying an additional 22,209 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Chemours by 25.2% in the second quarter. Panagora Asset Management Inc. now owns 9,748 shares of the specialty chemicals company’s stock valued at $220,000 after acquiring an additional 1,962 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Chemours by 2.1% during the second quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock valued at $940,000 after acquiring an additional 863 shares during the last quarter. Custom Index Systems LLC purchased a new stake in Chemours during the 2nd quarter worth about $398,000. Finally, Private Management Group Inc. increased its position in Chemours by 2.0% during the 2nd quarter. Private Management Group Inc. now owns 456,772 shares of the specialty chemicals company’s stock worth $10,309,000 after purchasing an additional 9,057 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

Shares of Chemours stock opened at $17.54 on Thursday. The business’s fifty day moving average price is $19.59 and its 200 day moving average price is $20.43. The Chemours Company has a twelve month low of $15.10 and a twelve month high of $32.70. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The stock has a market capitalization of $2.62 billion, a P/E ratio of 35.08 and a beta of 1.80.

Chemours (NYSE:CC) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the company posted $0.64 EPS. The company’s revenue was up .9% compared to the same quarter last year. As a group, research analysts anticipate that The Chemours Company will post 1.35 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date was Friday, November 15th. Chemours’s dividend payout ratio is presently 200.00%.

Insider Activity at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CC shares. BMO Capital Markets raised their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Barclays raised their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. The Goldman Sachs Group decreased their price objective on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Finally, Morgan Stanley dropped their target price on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.88.

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.