Appian Way Asset Management LP Purchases Shares of 1,680,673 The Chemours Company (NYSE:CC)

Appian Way Asset Management LP acquired a new stake in shares of The Chemours Company (NYSE:CC) during the third quarter, Holdings Channel.com reports. The fund acquired 1,680,673 shares of the specialty chemicals company’s stock, valued at approximately $34,151,000. Chemours accounts for 7.7% of Appian Way Asset Management LP’s holdings, making the stock its 5th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV grew its stake in Chemours by 19.5% in the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock worth $91,000 after purchasing an additional 728 shares in the last quarter. 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 worth $26,000 after acquiring an additional 731 shares in the last quarter. Arizona State Retirement System grew its position in shares of 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 acquiring an additional 863 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Chemours by 7.3% in the 3rd 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. Finally, Signaturefd LLC raised its position in shares of Chemours by 163.7% during the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 1,216 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CC. The Goldman Sachs Group decreased their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. UBS Group cut their target price on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada dropped their price target on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Barclays raised their target price on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley reduced their price target on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Chemours currently has a consensus rating of “Hold” and an average target price of $24.88.

Insiders Place Their Bets

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of Chemours stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the transaction, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Chemours Price Performance

Shares of NYSE:CC opened at $21.74 on Friday. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $32.70. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. The stock’s 50 day moving average price is $19.65 and its 200 day moving average price is $21.39. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 43.48 and a beta of 1.75.

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

Chemours Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 4.60%. Chemours’s dividend payout ratio is currently 200.00%.

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.