Quest Partners LLC Acquires 7,855 Shares of The Chemours Company (NYSE:CC)

Quest Partners LLC raised its stake in shares of The Chemours Company (NYSE:CC) by 7,206.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,964 shares of the specialty chemicals company’s stock after purchasing an additional 7,855 shares during the period. Quest Partners LLC’s holdings in Chemours were worth $162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Matrix Trust Co acquired a new position in shares of Chemours in the 3rd quarter worth approximately $25,000. Blue Trust Inc. lifted its holdings in Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares during the period. Signaturefd LLC boosted its position in Chemours by 163.7% during the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 1,216 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Chemours during the 2nd quarter worth about $58,000. Finally, KBC Group NV grew its holdings in Chemours by 19.5% during the 3rd quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock worth $91,000 after acquiring an additional 728 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Transactions at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares in the company, valued at $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

Chemours Trading Down 0.5 %

NYSE:CC opened at $21.82 on Friday. The Chemours Company has a one year low of $15.10 and a one year high of $32.70. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. The firm has a 50-day moving average of $19.60 and a 200-day moving average of $21.39. The company has a market cap of $3.26 billion, a PE ratio of 43.64 and a beta of 1.75.

Chemours (NYSE:CC) last issued its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. As a group, equities research analysts expect that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.58%. Chemours’s dividend payout ratio (DPR) is presently 200.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CC shares. Royal Bank of Canada cut their target price on Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. Morgan Stanley lowered their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. UBS Group cut their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Barclays lifted their price target on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.88.

Chemours Company Profile

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.