Chemours Co. (CC) Stake Raised by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. boosted its stake in Chemours Co. (NYSE:CC) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 254,178 shares of the company’s stock after buying an additional 3,435 shares during the period. UBS Asset Management Americas Inc. owned 0.14% of Chemours worth $2,095,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Seaward Management Limited Partnership boosted its stake in Chemours by 16.3% in the second quarter. Seaward Management Limited Partnership now owns 12,568 shares of the company’s stock valued at $103,000 after buying an additional 1,765 shares in the last quarter. Williams Jones & Associates LLC boosted its stake in Chemours by 7.8% in the first quarter. Williams Jones & Associates LLC now owns 16,226 shares of the company’s stock valued at $114,000 after buying an additional 1,169 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in Chemours by 41.8% in the first quarter. Kennedy Capital Management Inc. now owns 21,662 shares of the company’s stock valued at $152,000 after buying an additional 6,384 shares in the last quarter. Princeton Alpha Management LP purchased a new stake in Chemours during the second quarter valued at $179,000. Finally, Janney Montgomery Scott LLC boosted its stake in Chemours by 136.1% in the second quarter. Janney Montgomery Scott LLC now owns 27,091 shares of the company’s stock valued at $181,000 after buying an additional 15,616 shares in the last quarter. 76.63% of the stock is owned by institutional investors and hedge funds.
Chemours Co. (NYSE:CC) traded down 2.78% on Friday, hitting $15.75. The stock had a trading volume of 2,390,914 shares. Chemours Co. has a 1-year low of $3.06 and a 1-year high of $16.32. The stock’s market capitalization is $2.86 billion. The company has a 50-day moving average price of $14.07 and a 200-day moving average price of $10.22.
Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.10. Chemours had a positive return on equity of 95.01% and a negative net margin of 1.48%. The company earned $1.38 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted ($0.10) EPS. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. Equities analysts predict that Chemours Co. will post $0.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Monday, August 15th. Chemours’s dividend payout ratio (DPR) is currently -26.09%.
Several equities research analysts recently weighed in on the stock. Jefferies Group reaffirmed a “hold” rating on shares of Chemours in a research report on Wednesday, June 15th. TheStreet raised shares of Chemours from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Citigroup Inc. reissued a “neutral” rating and set a $9.00 target price (down previously from $10.50) on shares of Chemours in a research note on Friday, July 15th. Zacks Investment Research raised Chemours from a “hold” rating to a “strong-buy” rating and set a $14.00 target price for the company in a research note on Wednesday, August 17th. Finally, Argus raised Chemours from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Wednesday, August 10th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.94.
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 Company’s Titanium Technologies segment manufactures titanium dioxide (TiO2), which is a pigment used to deliver whiteness, opacity, brightness and protection from sunlight in applications, such as architectural and industrial coatings, plastic packaging, polyvinyl chloride (PVC) window profiles, laminate papers, coated paper and coated paperboard used for packaging.
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