Private Management Group Inc. Sells 97,781 Shares of The Chemours Company $CC

Private Management Group Inc. lowered its stake in shares of The Chemours Company (NYSE:CC) by 11.4% in the second quarter, Holdings Channel.com reports. The firm owned 760,342 shares of the specialty chemicals company’s stock after selling 97,781 shares during the period. Private Management Group Inc.’s holdings in Chemours were worth $15,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Atlas Capital Advisors Inc. bought a new position in shares of Chemours in the fourth quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd purchased a new position in Chemours during the 4th quarter worth $28,000. Covestor Ltd grew its stake in shares of Chemours by 204.7% in the 4th quarter. Covestor Ltd now owns 2,602 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 1,748 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Chemours in the 4th quarter worth $31,000. Finally, Rothschild Investment LLC raised its holdings in shares of Chemours by 87.0% in the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,255 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CC. Morgan Stanley set a $18.00 price target on shares of Chemours in a report on Monday, August 10th. BMO Capital Markets cut their target price on Chemours from $26.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Zacks Research lowered Chemours from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, August 11th. Weiss Ratings lowered Chemours from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. cut their price objective on Chemours from $22.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Chemours presently has a consensus rating of “Hold” and a consensus price target of $20.10.

Insider Activity at Chemours

In other Chemours news, CFO Shane Hostetter bought 3,350 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was purchased at an average price of $14.94 per share, for a total transaction of $50,049.00. Following the completion of the transaction, the chief financial officer directly owned 102,698 shares of the company’s stock, valued at $1,534,308.12. This trade represents a 3.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Calderon Gerardo Familiar bought 1,935 shares of Chemours stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $15.53 per share, with a total value of $30,050.55. Following the purchase, the insider directly owned 58,547 shares of the company’s stock, valued at approximately $909,234.91. This represents a 3.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 8,663 shares of company stock worth $130,601. Company insiders own 0.85% of the company’s stock.

Chemours Price Performance

Chemours stock opened at $15.64 on Friday. The Chemours Company has a 12 month low of $10.44 and a 12 month high of $28.67. The company has a current ratio of 1.66, a quick ratio of 0.88 and a debt-to-equity ratio of 18.98. The business’s 50 day simple moving average is $17.39 and its 200 day simple moving average is $19.97. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -8.19 and a beta of 1.43.

Chemours (NYSE:CC) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.54) earnings per share. Sell-side analysts forecast that The Chemours Company will post 0.87 EPS for the current year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.0875 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.35 annualized dividend and a yield of 2.2%. Chemours’s dividend payout ratio (DPR) is -18.32%.

Chemours 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.