Integrated Wealth Concepts LLC lessened its holdings in The Chemours Company (NYSE:CC – Get Rating) by 16.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,244 shares of the specialty chemicals company’s stock after selling 1,448 shares during the period. Integrated Wealth Concepts LLC’s holdings in Chemours were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Chemours by 29.0% in the 1st quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company’s stock valued at $569,023,000 after buying an additional 4,060,250 shares during the period. First Trust Advisors LP raised its holdings in shares of Chemours by 214.1% in the 1st quarter. First Trust Advisors LP now owns 1,314,288 shares of the specialty chemicals company’s stock valued at $41,374,000 after buying an additional 895,847 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Chemours in the 1st quarter valued at $19,175,000. Bank of America Corp DE raised its holdings in shares of Chemours by 75.8% in the 1st quarter. Bank of America Corp DE now owns 1,083,843 shares of the specialty chemicals company’s stock valued at $34,119,000 after buying an additional 467,394 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Chemours in the 1st quarter valued at $12,781,000. Institutional investors and hedge funds own 70.86% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on CC. Royal Bank of Canada cut their price objective on Chemours from $48.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, September 22nd. BMO Capital Markets cut their price target on Chemours from $46.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 27th. StockNews.com downgraded Chemours from a “buy” rating to a “hold” rating in a report on Monday. Credit Suisse Group initiated coverage on Chemours in a report on Tuesday, November 1st. They set an “underperform” rating and a $24.00 price target on the stock. Finally, The Goldman Sachs Group initiated coverage on Chemours in a report on Thursday, October 13th. They set a “neutral” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.00.
Chemours Trading Down 0.1 %
CC opened at $33.40 on Tuesday. The Chemours Company has a one year low of $22.56 and a one year high of $44.95. The company has a market cap of $5.04 billion, a P/E ratio of 5.95, a PEG ratio of 0.55 and a beta of 1.86. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.14 and a current ratio of 1.82. The business’s 50-day simple moving average is $29.27 and its 200-day simple moving average is $33.75.
Chemours (NYSE:CC – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The specialty chemicals company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. Chemours had a return on equity of 73.45% and a net margin of 12.91%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that The Chemours Company will post 4.93 EPS for the current fiscal year.
Chemours Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be given a $0.25 dividend. The ex-dividend date is Monday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.99%. Chemours’s dividend payout ratio (DPR) is presently 17.83%.
Chemours Company Profile
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The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, 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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