Credit Suisse AG Trims Holdings in The Chemours Company (NYSE:CC)
Credit Suisse AG reduced its holdings in shares of The Chemours Company (NYSE:CC - Free Report) by 7.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 167,628 shares of the specialty chemicals company's stock after selling 12,724 shares during the period. Credit Suisse AG owned approximately 0.11% of Chemours worth $5,019,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of Chemours by 29.0% during the first quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company's stock worth $569,023,000 after purchasing an additional 4,060,250 shares during the period. Norges Bank acquired a new stake in shares of Chemours in the 4th quarter worth $47,013,000. JPMorgan Chase & Co. boosted its holdings in shares of Chemours by 68.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,885,061 shares of the specialty chemicals company's stock valued at $88,340,000 after acquiring an additional 1,174,536 shares in the last quarter. Balyasny Asset Management LLC increased its stake in shares of Chemours by 1,845.6% during the third quarter. Balyasny Asset Management LLC now owns 997,478 shares of the specialty chemicals company's stock worth $24,588,000 after acquiring an additional 946,210 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Chemours by 5.5% during the third quarter. Vanguard Group Inc. now owns 17,741,300 shares of the specialty chemicals company's stock worth $437,324,000 after purchasing an additional 932,063 shares in the last quarter. 76.46% of the stock is currently owned by institutional investors and hedge funds.
CC has been the subject of a number of analyst reports. Royal Bank of Canada increased their target price on Chemours from $37.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Monday, July 31st. UBS Group raised their target price on Chemours from $41.00 to $43.00 in a report on Tuesday, June 13th. Morgan Stanley restated an "equal weight" rating and set a $33.00 target price on shares of Chemours in a research report on Tuesday, August 1st. Barclays increased their price target on shares of Chemours from $38.00 to $40.00 in a report on Tuesday, July 11th. Finally, TheStreet downgraded shares of Chemours from a "b" rating to a "c+" rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $38.22.
Check Out Our Latest Research Report on Chemours
Shares of CC opened at $34.22 on Wednesday. The Chemours Company has a 12-month low of $23.58 and a 12-month high of $39.05. The stock has a market cap of $5.07 billion, a P/E ratio of -50.32, a PEG ratio of 1.27 and a beta of 1.96. The company has a current ratio of 1.54, a quick ratio of 0.88 and a debt-to-equity ratio of 4.45. The company has a 50-day moving average of $35.80 and a two-hundred day moving average of $32.56.
Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.75 billion. Chemours had a positive return on equity of 46.14% and a negative net margin of 1.40%. During the same period in the previous year, the firm posted $1.89 EPS. As a group, research analysts predict that The Chemours Company will post 3.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Monday, August 14th. Chemours's dividend payout ratio is presently -147.06%.
In other Chemours news, SVP Matthew S. Abbott sold 8,912 shares of the business's stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $34.20, for a total value of $304,790.40. Following the completion of the transaction, the senior vice president now directly owns 29,869 shares in the company, valued at approximately $1,021,519.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mark Newman bought 7,661 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was purchased at an average cost of $34.63 per share, for a total transaction of $265,300.43. Following the completion of the acquisition, the chief executive officer now owns 266,955 shares in the company, valued at $9,244,651.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew S. Abbott sold 8,912 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $34.20, for a total transaction of $304,790.40. Following the transaction, the senior vice president now directly owns 29,869 shares in the company, valued at approximately $1,021,519.80. The disclosure for this sale can be found here. 1.63% of the stock is currently owned by corporate insiders.
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.
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