Norden Group LLC Invests $201,000 in The Chemours Company (NYSE:CC)

Norden Group LLC purchased a new position in shares of The Chemours Company (NYSE:CCFree Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,668 shares of the specialty chemicals company’s stock, valued at approximately $201,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Bourgeon Capital Management LLC increased its position in Chemours by 21.1% during the first quarter. Bourgeon Capital Management LLC now owns 70,250 shares of the specialty chemicals company’s stock worth $1,845,000 after buying an additional 12,250 shares during the period. State of Michigan Retirement System grew its stake in shares of Chemours by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 36,479 shares of the specialty chemicals company’s stock valued at $958,000 after purchasing an additional 900 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Chemours by 91.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,676 shares of the specialty chemicals company’s stock valued at $69,476,000 after purchasing an additional 1,263,875 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of Chemours by 1,969.7% in the 1st quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Alaska Permanent Fund Corp boosted its stake in shares of Chemours by 14.0% in the first quarter. Alaska Permanent Fund Corp now owns 84,918 shares of the specialty chemicals company’s stock valued at $2,230,000 after buying an additional 10,420 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Performance

Chemours stock opened at $22.44 on Wednesday. The firm has a market capitalization of $3.34 billion, a P/E ratio of -10.34 and a beta of 1.80. The stock has a fifty day moving average price of $25.23 and a 200 day moving average price of $27.27. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $39.05. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 5.26.

Chemours (NYSE:CCGet Free Report) last released its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.25 by $0.07. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.35 billion. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. Equities research analysts anticipate that The Chemours Company will post 1.88 earnings per share for the current year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Tuesday, May 14th. Chemours’s dividend payout ratio (DPR) is presently -46.08%.

Analyst Ratings Changes

CC has been the topic of a number of analyst reports. Mizuho initiated coverage on Chemours in a research note on Friday, June 7th. They issued a “neutral” rating and a $25.00 price target on the stock. UBS Group upgraded Chemours from a “neutral” rating to a “buy” rating and lifted their price target for the company from $28.00 to $30.00 in a research note on Tuesday. BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $19.00 to $34.00 in a report on Tuesday, April 9th. Finally, Barclays reduced their price objective on Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Chemours has an average rating of “Hold” and a consensus target price of $30.38.

Check Out Our Latest Stock Report on Chemours

Chemours Profile

(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.

Read More

Want to see what other hedge funds are holding CC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Chemours Company (NYSE:CCFree Report).

Institutional Ownership by Quarter for Chemours (NYSE:CC)

Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.