Goldman Sachs Group Inc. raised its holdings in shares of The Chemours Company (NYSE: CC – Get Rating) by 44.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,331,652 shares of the specialty chemicals company stock after acquiring an additional 408,007 shares during the period. Goldman Sachs Group Inc. owned approximately 0.82% of Chemours worth $ 44,690,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. Old North State Trust LLC raised its position in shares of Chemours by 58.7% during the 4th quarter. Old North State Trust LLC now owns 949 shares of the specialty chemicals company stock valued at $ 32,000 after acquiring an additional 351 shares during the last quarter. Versor Investments LP raised its position in shares of Chemours by 1.4% during the 4th quarter. Versor Investments LP now owns 38,944 shares of the specialty chemicals company stock valued at $ 1,307,000 after acquiring an additional 543 shares during the last quarter. Kiwi Wealth Investments Limited Partnership increased its position in shares of Chemours by 1.7% in the 3rd quarter. Kiwi Wealth Investments Limited Partnership now owns 33,181 shares of the specialty chemicals company stock valued at $ 964,000 after buying an additional 555 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Chemours by 274.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,014 shares of the specialty chemicals company stock valued at $ 34,000 after buying an additional 743 shares in the last quarter. Finally, Sageworth Trust Co of South Dakota bought a new stake in shares of Chemours in the 4th quarter valued at $ 26,000. Institutional investors own 76.38% of the company stock.
In other news, CEO Mark Newman sold 197,161 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $ 40.22, for a total value of $ 7,929,815.42. Following the completion of the transaction, the chief executive officer now owns 176,347 shares in the company, valued at approximately $ 7,092,676.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Alvenia Scarborough sold 7,249 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $ 40.42, for a total value of $ 293,004.58. Following the completion of the transaction, the senior vice president now owns 12,322 shares of the company stock, valued at approximately $ 498,055.24. The disclosure for this sale can be found here. Insiders sold a total of 274,138 shares of company stock valued at $ 11,023,963 in the last 90 days. 3.04% of the stock is owned by corporate insiders.
CC stock opened at $ 43.50 on Thursday. The stock has a 50-day moving average price of $ 37.66 and a two-hundred day moving average price of $ 33.63. The stock has a market cap of $ 6.76 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.59 and a beta of 1.79. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt-to-equity ratio of 3.16. The Chemours Company has a 1 year low of $ 22.56 and a 1 year high of $ 44.95.
Chemours (NYSE: CC – Get Rating) last released its earnings results on Monday, May 2nd. The specialty chemicals company reported $ 1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 0.92 by $ 0.54. Chemours had a return on equity of 76.47% and a net margin of 11.19%. During the same quarter in the previous year, the firm posted $ 0.71 earnings per share. On average, analysts forecast that The Chemours Company will post 5.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Monday, May 16th will be issued a $ 0.25 dividend. This represents a $ 1.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, May 13th. Chemours’s payout ratio is 22.27%.
A number of research firms recently commented on CC. Royal Bank of Canada lowered their price objective on shares of Chemours from $ 44.00 to $ 41.00 and set an “outperform” rating for the company in a research report on Tuesday, February 15th. JPMorgan Chase & Co. lowered their price objective on shares of Chemours from $ 35.00 to $ 30.00 and set a “neutral” rating for the company in a research report on Monday, February 14th. Barclays upped their price objective on shares of Chemours from $ 37.00 to $ 46.00 in a research report on Monday, May 9th. Finally, StockNews.com upgraded shares of Chemours from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 3rd. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $ 40.71.
Chemours Company Profile: (Get Rating)
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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