American International Group Inc. Decreases Stake in Chemours Co (CC)
American International Group Inc. lowered its position in shares of Chemours Co (NYSE:CC) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 349,761 shares of the specialty chemicals company’s stock after selling 10,828 shares during the quarter. American International Group Inc.’s holdings in Chemours were worth $9,870,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of CC. Financial Architects Inc boosted its holdings in Chemours by 39.2% in the 4th quarter. Financial Architects Inc now owns 1,421 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 400 shares during the period. Lavaca Capital LLC acquired a new position in shares of Chemours in the 4th quarter valued at approximately $44,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Chemours by 357.1% in the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,200 shares of the specialty chemicals company’s stock valued at $90,000 after purchasing an additional 2,500 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Chemours by 3,583.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,675,256 shares of the specialty chemicals company’s stock valued at $95,000 after purchasing an additional 2,602,624 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Chemours by 122.6% in the 4th quarter. Penserra Capital Management LLC now owns 4,167 shares of the specialty chemicals company’s stock valued at $116,000 after purchasing an additional 2,295 shares in the last quarter. Institutional investors and hedge funds own 79.49% of the company’s stock.
Shares of CC opened at $37.89 on Friday. Chemours Co has a 52-week low of $25.17 and a 52-week high of $53.25. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 6.68, a price-to-earnings-growth ratio of 0.53 and a beta of 2.31. The company has a current ratio of 1.93, a quick ratio of 1.26 and a debt-to-equity ratio of 3.88.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Tuesday, February 26th. Chemours’s dividend payout ratio is currently 17.64%.
A number of brokerages have issued reports on CC. ValuEngine raised Chemours from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 20th. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Chemours in a research report on Tuesday, February 19th. Citigroup reaffirmed a “buy” rating and issued a $43.00 target price on shares of Chemours in a research report on Wednesday, February 20th. SunTrust Banks upped their target price on Chemours to $40.00 and gave the company a “hold” rating in a research report on Tuesday, February 19th. Finally, HSBC began coverage on Chemours in a research report on Tuesday, January 8th. They issued a “buy” rating and a $52.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.13.
In related news, VP Amy Trojanowski sold 13,536 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $38.63, for a total transaction of $522,895.68. Following the sale, the vice president now directly owns 54,367 shares of the company’s stock, valued at approximately $2,100,197.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Kirsch sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $38.66, for a total value of $386,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,924 shares of company stock worth $3,924,730. Corporate insiders own 1.75% of the company’s stock.
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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
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