Pekin Hardy Strauss Inc. purchased a new position in The Chemours Company (NYSE:CC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 300,607 shares of the specialty chemicals company's stock, valued at approximately $4,067,000. Pekin Hardy Strauss Inc. owned 0.20% of Chemours as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Chemours in the first quarter worth $822,000. Sei Investments Co. increased its position in shares of Chemours by 779.5% in the fourth quarter. Sei Investments Co. now owns 174,555 shares of the specialty chemicals company's stock worth $2,950,000 after purchasing an additional 154,709 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Chemours by 22.4% in the first quarter. Janney Montgomery Scott LLC now owns 31,886 shares of the specialty chemicals company's stock worth $431,000 after purchasing an additional 5,843 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Chemours in the fourth quarter worth $515,000. Finally, GAMMA Investing LLC increased its position in shares of Chemours by 1,115.2% in the first quarter. GAMMA Investing LLC now owns 18,617 shares of the specialty chemicals company's stock worth $252,000 after purchasing an additional 17,085 shares during the period. Institutional investors own 76.26% of the company's stock.
Insider Transactions at Chemours
In other news, CFO Shane Hostetter purchased 4,450 shares of the business's stock in a transaction dated Monday, May 19th. The shares were purchased at an average cost of $11.28 per share, with a total value of $50,196.00. Following the completion of the purchase, the chief financial officer owned 59,694 shares of the company's stock, valued at $673,348.32. This trade represents a 8.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Damian Gumpel purchased 7,822 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average cost of $9.95 per share, for a total transaction of $77,828.90. Following the completion of the purchase, the insider directly owned 131,701 shares of the company's stock, valued at approximately $1,310,424.95. This represents a 6.31% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 25,672 shares of company stock worth $251,573 over the last three months. Insiders own 0.34% of the company's stock.
Analysts Set New Price Targets
CC has been the topic of a number of recent analyst reports. Truist Financial decreased their price target on Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Mizuho set a $15.00 target price on Chemours in a research report on Tuesday, April 15th. Barclays decreased their target price on Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Morgan Stanley decreased their target price on Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Finally, The Goldman Sachs Group decreased their target price on Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $17.33.
Get Our Latest Research Report on Chemours
Chemours Price Performance
Chemours stock traded up $1.19 during midday trading on Tuesday, reaching $13.61. The company's stock had a trading volume of 8,436,916 shares, compared to its average volume of 2,500,755. The Chemours Company has a 52 week low of $9.13 and a 52 week high of $25.54. The company has a current ratio of 1.75, a quick ratio of 0.83 and a debt-to-equity ratio of 7.01. The business has a 50-day moving average price of $11.27 and a 200-day moving average price of $14.02. The stock has a market cap of $2.04 billion, a PE ratio of 68.05 and a beta of 1.65.
Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). Chemours had a net margin of 0.54% and a return on equity of 23.82%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $0.32 earnings per share. The business's revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side analysts predict that The Chemours Company will post 2.03 EPS for the current year.
Chemours Announces Dividend
The company also recently declared a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, May 19th were paid a dividend of $0.0875 per share. This represents a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, May 16th. Chemours's payout ratio is 175.00%.
About Chemours
(
Free Report)
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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