The Chemours Company $CC Shares Sold by Private Management Group Inc.

Private Management Group Inc. reduced its holdings in The Chemours Company (NYSE:CC) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 928,514 shares of the specialty chemicals company’s stock after selling 36,188 shares during the period. Private Management Group Inc.’s holdings in Chemours were worth $14,708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its stake in Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after acquiring an additional 1,131,682 shares in the last quarter. UBS Group AG lifted its stake in Chemours by 0.3% in the 3rd quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock worth $75,311,000 after purchasing an additional 14,865 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Chemours by 21.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,216,064 shares of the specialty chemicals company’s stock worth $48,274,000 after purchasing an additional 748,052 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Chemours by 41.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,484,416 shares of the specialty chemicals company’s stock worth $39,901,000 after purchasing an additional 1,020,933 shares during the last quarter. Finally, Scopia Capital Management LP boosted its holdings in shares of Chemours by 71.7% during the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after purchasing an additional 1,401,539 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Stock Down 0.6%

Shares of NYSE CC opened at $17.60 on Friday. The company has a market capitalization of $2.64 billion, a P/E ratio of -7.10 and a beta of 1.60. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. The company has a 50 day simple moving average of $16.95 and a 200-day simple moving average of $14.84. The Chemours Company has a 1 year low of $9.13 and a 1 year high of $21.85.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Chemours had a positive return on equity of 41.75% and a negative net margin of 6.41%.The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, equities research analysts predict that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, February 27th. Chemours’s dividend payout ratio is -14.11%.

Wall Street Analyst Weigh In

Several research firms recently commented on CC. JPMorgan Chase & Co. increased their price target on Chemours from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. BMO Capital Markets lowered their price objective on Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. The Goldman Sachs Group upped their target price on Chemours from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Morgan Stanley raised their target price on Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.40.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.