Victory Capital Management Inc. Buys 69,531 Shares of The Chemours Company (NYSE:CC)

Victory Capital Management Inc. boosted its stake in The Chemours Company (NYSE:CC) by 206.2% in the 3rd quarter, Holdings Channel reports. The firm owned 103,259 shares of the specialty chemicals company’s stock after acquiring an additional 69,531 shares during the quarter. Victory Capital Management Inc.’s holdings in Chemours were worth $2,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CC. Burney Co. increased its stake in Chemours by 0.3% in the first quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock valued at $5,174,000 after acquiring an additional 601 shares during the last quarter. Blue Trust Inc. increased its position in shares of Chemours by 166.9% during the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 731 shares during the last quarter. Arizona State Retirement System lifted its position in Chemours by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after buying an additional 863 shares during the last quarter. New Covenant Trust Company N.A. purchased a new stake in Chemours in the first quarter worth approximately $29,000. Finally, State of Alaska Department of Revenue grew its position in Chemours by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 17,205 shares of the specialty chemicals company’s stock valued at $349,000 after acquiring an additional 1,175 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CC shares. UBS Group decreased their price target on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. BMO Capital Markets lifted their target price on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Royal Bank of Canada dropped their price target on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley decreased their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Finally, Barclays increased their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Chemours has an average rating of “Hold” and an average target price of $24.88.

Insiders Place Their Bets

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 value of $154,800.00. Following the sale, the senior vice president now 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 Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

Chemours Trading Up 3.5 %

NYSE:CC opened at $21.53 on Monday. The firm has a market cap of $3.22 billion, a P/E ratio of 43.06 and a beta of 1.75. The firm has a 50-day simple moving average of $19.39 and a 200-day simple moving average of $21.48. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The Chemours Company has a one year low of $15.10 and a one year high of $32.70.

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

Chemours Dividend Announcement

The firm 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 annualized dividend and a yield of 4.64%. Chemours’s dividend payout ratio (DPR) is presently 200.00%.

About Chemours

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.