Principal Financial Group Inc. Buys 399,097 Shares of The Chemours Company (NYSE:CC)

Principal Financial Group Inc. lifted its stake in shares of The Chemours Company (NYSE:CC) by 116.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 742,119 shares of the specialty chemicals company’s stock after purchasing an additional 399,097 shares during the quarter. Principal Financial Group Inc. owned 0.50% of Chemours worth $10,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CC. Norges Bank bought a new stake in shares of Chemours during the 4th quarter valued at approximately $30,702,000. Bank of Montreal Can boosted its position in Chemours by 1,496.4% during the 4th quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company’s stock worth $16,110,000 after buying an additional 893,530 shares during the period. Ameriprise Financial Inc. boosted its position in Chemours by 23.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company’s stock worth $73,907,000 after buying an additional 839,849 shares during the period. Millennium Management LLC boosted its position in Chemours by 44.6% during the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company’s stock worth $42,373,000 after buying an additional 773,537 shares during the period. Finally, Invesco Ltd. boosted its position in Chemours by 141.5% during the 4th quarter. Invesco Ltd. now owns 1,020,001 shares of the specialty chemicals company’s stock worth $17,238,000 after buying an additional 597,638 shares during the period. 76.26% of the stock is owned by institutional investors.

Chemours Stock Performance

NYSE CC opened at $13.48 on Tuesday. The Chemours Company has a 1 year low of $9.13 and a 1 year high of $25.54. The company has a debt-to-equity ratio of 7.01, a current ratio of 1.75 and a quick ratio of 0.83. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 67.38 and a beta of 1.65. The company has a fifty day moving average price of $11.38 and a 200-day moving average price of $13.91.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). Chemours had a return on equity of 23.82% and a net margin of 0.54%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The business’s revenue was up .4% compared to the same quarter last year. As a group, equities research analysts predict that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, June 16th. Investors of record on Monday, May 19th were given a dividend of $0.0875 per share. The ex-dividend date was Friday, May 16th. This represents a yield of 3.17%. Chemours’s payout ratio is currently 175.00%.

Insider Activity

In other Chemours news, CFO Shane Hostetter acquired 4,450 shares of the company’s stock in a transaction on Monday, May 19th. The shares were acquired at an average cost of $11.28 per share, with a total value of $50,196.00. Following the completion of the acquisition, the chief financial officer directly owned 59,694 shares in the company, valued at $673,348.32. This trade represents a 8.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Damian Gumpel acquired 13,400 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were acquired at an average cost of $9.22 per share, for a total transaction of $123,548.00. Following the completion of the acquisition, the insider owned 123,879 shares of the company’s stock, valued at approximately $1,142,164.38. The trade was a 12.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 25,672 shares of company stock valued at $251,573. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on CC. Mizuho set a $15.00 target price on shares of Chemours in a research report on Tuesday, April 15th. Royal Bank Of Canada boosted their price target on shares of Chemours from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, July 3rd. Wall Street Zen downgraded shares of Chemours from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. UBS Group dropped their price target on shares of Chemours from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group dropped their target price on shares of Chemours from $21.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Chemours has a consensus rating of “Hold” and an average price target of $17.33.

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.