The Chemours Company $CC Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in The Chemours Company (NYSE:CC) by 28.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 445,911 shares of the specialty chemicals company’s stock after purchasing an additional 98,913 shares during the period. Rhumbline Advisers owned about 0.30% of Chemours worth $5,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MTM Investment Management LLC acquired a new position in Chemours in the second quarter worth approximately $27,000. SouthState Corp bought a new stake in shares of Chemours during the 1st quarter worth $34,000. GAMMA Investing LLC grew its holdings in shares of Chemours by 130.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,175 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 1,799 shares during the last quarter. Evelyn Partners Asset Management Ltd acquired a new stake in shares of Chemours during the second quarter worth $37,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of Chemours by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 4,000 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 2,000 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CC. Mizuho dropped their price target on Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, October 16th. Zacks Research downgraded shares of Chemours from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of Chemours from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Truist Financial lowered their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.00.

Chemours Trading Down 3.1%

Chemours stock opened at $12.56 on Friday. The Chemours Company has a one year low of $9.13 and a one year high of $22.26. The company’s fifty day moving average price is $13.26 and its two-hundred day moving average price is $13.25. The company has a debt-to-equity ratio of 13.66, a current ratio of 1.71 and a quick ratio of 0.88. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -5.66 and a beta of 1.59.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.Chemours’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. On average, analysts forecast that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, November 14th. Chemours’s dividend payout ratio (DPR) is -15.77%.

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.