Brooklyn Investment Group Acquires Shares of 1,840 The Chemours Company (NYSE:CC)

Brooklyn Investment Group purchased a new position in shares of The Chemours Company (NYSE:CC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,840 shares of the specialty chemicals company’s stock, valued at approximately $37,000.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC grew its position in shares of Chemours by 3.5% during the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock worth $368,650,000 after buying an additional 618,361 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Chemours during the third quarter worth approximately $35,000. Charles Schwab Investment Management Inc. grew its position in shares of Chemours by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the specialty chemicals company’s stock worth $24,974,000 after buying an additional 32,590 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Chemours during the third quarter worth approximately $207,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Chemours during the third quarter worth approximately $1,939,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Chemours Stock Performance

Shares of CC opened at $21.74 on Friday. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 43.64 and a beta of 1.75. 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 firm has a fifty day moving average of $19.65 and a 200-day moving average of $21.39.

Chemours (NYSE:CC) last announced its quarterly 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 net margin of 1.34% and a return on equity of 29.48%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts anticipate that The Chemours Company will post 1.35 earnings per share for the current year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 4.60%. Chemours’s payout ratio is 200.00%.

Insider Activity at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares of the company’s stock, valued at $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

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.