Anchor Capital Advisors LLC cut its position in shares of Chemours Co (NYSE:CC) by 8.5% in the 3rd quarter, Holdings Channel reports. The fund owned 16,643 shares of the specialty chemicals company’s stock after selling 1,551 shares during the period. Anchor Capital Advisors LLC’s holdings in Chemours were worth $656,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Trilogy Capital Inc. acquired a new stake in Chemours during the third quarter worth about $179,000. USA Financial Portformulas Corp acquired a new stake in shares of Chemours in the third quarter valued at about $353,000. Ardevora Asset Management LLP grew its stake in shares of Chemours by 29.7% in the third quarter. Ardevora Asset Management LLP now owns 900,656 shares of the specialty chemicals company’s stock valued at $35,522,000 after buying an additional 206,000 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Chemours by 1.7% in the third quarter. Arizona State Retirement System now owns 125,569 shares of the specialty chemicals company’s stock valued at $4,952,000 after buying an additional 2,049 shares in the last quarter. Finally, GWM Advisors LLC grew its stake in shares of Chemours by 7.5% in the third quarter. GWM Advisors LLC now owns 36,540 shares of the specialty chemicals company’s stock valued at $1,441,000 after buying an additional 2,549 shares in the last quarter. Institutional investors own 76.59% of the company’s stock.
A number of equities research analysts have recently issued reports on CC shares. Citigroup lowered their target price on Chemours from $61.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, October 11th. Barclays reiterated a “buy” rating and issued a $62.00 target price on shares of Chemours in a research note on Tuesday, August 7th. Morgan Stanley lowered their target price on Chemours from $57.50 to $48.00 and set a “hold” rating for the company in a research note on Tuesday, July 17th. Zacks Investment Research lowered Chemours from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 9th. Finally, SunTrust Banks started coverage on Chemours in a research note on Tuesday, July 31st. They issued a “hold” rating and a $51.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $56.11.
Chemours (NYSE:CC) last posted its earnings results on Thursday, November 1st. The specialty chemicals company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.07. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.71 billion. Chemours had a return on equity of 107.22% and a net margin of 15.11%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 earnings per share. Equities analysts predict that Chemours Co will post 5.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, November 15th. Chemours’s dividend payout ratio is currently 26.18%.
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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