Westpac Banking Corp decreased its holdings in Chemours Co (NYSE:CC) by 16.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,245 shares of the specialty chemicals company’s stock after selling 19,755 shares during the quarter. Westpac Banking Corp owned 0.05% of Chemours worth $5,018,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt raised its position in Chemours by 201.4% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,340 shares of the specialty chemicals company’s stock worth $217,000 after buying an additional 2,900 shares during the last quarter. Gulf International Bank UK Ltd purchased a new position in Chemours in the 4th quarter worth about $3,071,000. Gateway Investment Advisers LLC raised its position in Chemours by 14.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 42,214 shares of the specialty chemicals company’s stock worth $2,113,000 after buying an additional 5,476 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Chemours by 608.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,503 shares of the specialty chemicals company’s stock worth $826,000 after buying an additional 14,173 shares during the last quarter. Finally, DnB Asset Management AS purchased a new position in Chemours in the 4th quarter worth about $776,000. 74.37% of the stock is owned by institutional investors and hedge funds.
CC has been the subject of several research reports. Jefferies Group upped their price target on shares of Chemours to $66.00 and gave the company a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research raised shares of Chemours from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, November 9th. UBS Group upped their price target on shares of Chemours from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Barclays upped their price target on shares of Chemours from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, November 6th. Finally, Goldman Sachs Group lowered shares of Chemours from a “buy” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Wednesday, December 6th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Chemours presently has a consensus rating of “Buy” and an average target price of $57.89.
Shares of Chemours Co (NYSE:CC) opened at $54.02 on Monday. Chemours Co has a 52-week low of $24.17 and a 52-week high of $58.08. The company has a market cap of $10,002.51, a PE ratio of 37.26, a PEG ratio of 0.70 and a beta of 3.37. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.63 and a current ratio of 2.19.
Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.11. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.59 billion. Chemours had a net margin of 4.86% and a return on equity of 116.80%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS. sell-side analysts expect that Chemours Co will post 3.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Chemours’s previous quarterly dividend of $0.03. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. Chemours’s payout ratio is 8.28%.
Chemours declared that its Board of Directors has initiated a share buyback plan on Friday, December 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, insider E Bryan Snell sold 11,878 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $53.25, for a total transaction of $632,503.50. Following the completion of the transaction, the insider now directly owns 63,063 shares in the company, valued at approximately $3,358,104.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christian W. Siemer sold 15,088 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.37, for a total value of $714,718.56. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
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The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.
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