Fisher Asset Management LLC Sells 29,720 Shares of The Chemours Company (NYSE:CC)

Fisher Asset Management LLC lowered its stake in shares of The Chemours Company (NYSE:CC) by 19.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 124,053 shares of the specialty chemicals company’s stock after selling 29,720 shares during the period. Fisher Asset Management LLC’s holdings in Chemours were worth $3,913,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Deutsche Bank AG lifted its position in shares of Chemours by 4,407.9% during the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after buying an additional 1,720,389 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Chemours in the 4th quarter valued at about $4,711,000. Anchor Investment Management LLC purchased a new stake in Chemours during the fourth quarter valued at about $56,000. American Century Companies Inc. boosted its position in Chemours by 0.7% during the third quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock worth $40,938,000 after purchasing an additional 10,075 shares during the period. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Chemours in the third quarter worth about $1,044,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CC. UBS Group raised their price objective on shares of Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Barclays decreased their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. BMO Capital Markets upgraded shares of Chemours from an “underperform” rating to an “outperform” rating and raised their price objective for the company from $19.00 to $34.00 in a research report on Tuesday, April 9th. Finally, Mizuho initiated coverage on shares of Chemours in a report on Friday, June 7th. They set a “neutral” rating and a $25.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.89.

Chemours Stock Performance

Chemours stock opened at $22.98 on Friday. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $39.05. The firm’s fifty day moving average price is $26.26 and its 200-day moving average price is $27.95. The stock has a market cap of $3.42 billion, a P/E ratio of -10.59 and a beta of 1.82. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.99 and a current ratio of 1.61.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.07. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Chemours’s revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities research analysts expect that The Chemours Company will post 1.88 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.35%. Chemours’s dividend payout ratio (DPR) is currently -46.08%.

Chemours Company 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.