Private Management Group Inc. Has $15.97 Million Position in The Chemours Company (NYSE:CC)

Private Management Group Inc. raised its stake in shares of The Chemours Company (NYSE:CC) by 72.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 785,809 shares of the specialty chemicals company’s stock after buying an additional 329,037 shares during the quarter. Private Management Group Inc.’s holdings in Chemours were worth $15,968,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. State of Alaska Department of Revenue grew its position in shares of Chemours by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 17,205 shares of the specialty chemicals company’s stock worth $349,000 after buying an additional 1,175 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Chemours in the 3rd quarter valued at approximately $4,110,000. Signaturefd LLC grew its position in shares of Chemours by 163.7% in the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 1,216 shares during the period. Jade Capital Advisors LLC grew its position in shares of Chemours by 75.0% in the 3rd quarter. Jade Capital Advisors LLC now owns 70,000 shares of the specialty chemicals company’s stock valued at $1,422,000 after purchasing an additional 30,000 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Chemours by 166.9% in 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 period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada decreased their price objective on Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Barclays decreased their price objective on Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. UBS Group decreased their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. BMO Capital Markets raised their price target 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.00.

Chemours Stock Down 1.9 %

Shares of NYSE CC traded down $0.34 during trading hours on Friday, hitting $17.82. The company had a trading volume of 1,621,588 shares, compared to its average volume of 1,553,924. The stock has a market capitalization of $2.66 billion, a P/E ratio of 22.00 and a beta of 1.74. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45. The Chemours Company has a 1-year low of $15.10 and a 1-year high of $32.70. The firm’s 50 day moving average is $18.95 and its 200-day moving average is $22.28.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.19). Chemours had a net margin of 2.16% and a return on equity of 33.21%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company posted $1.10 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, analysts expect that The Chemours Company will post 1.32 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s dividend payout ratio is 123.46%.

Chemours 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.