Dimensional Fund Advisors LP Decreases Stock Holdings in The Chemours Company (NYSE:CC)

Dimensional Fund Advisors LP trimmed its position in shares of The Chemours Company (NYSE:CC) by 1.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,337,837 shares of the specialty chemicals company’s stock after selling 29,034 shares during the period. Dimensional Fund Advisors LP’s holdings in Chemours were worth $52,772,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Chemours by 169.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,105 shares of the specialty chemicals company’s stock valued at $1,009,000 after purchasing an additional 22,067 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Chemours in the 1st quarter valued at approximately $1,764,000. Edgestream Partners L.P. purchased a new position in shares of Chemours in the 1st quarter valued at approximately $1,228,000. Assenagon Asset Management S.A. purchased a new position in shares of Chemours in the 2nd quarter valued at approximately $2,504,000. Finally, Easterly Investment Partners LLC purchased a new position in shares of Chemours in the 1st quarter valued at approximately $1,153,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CC has been the subject of several research analyst reports. 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 research report on Tuesday, September 3rd. Mizuho initiated coverage on shares of Chemours in a research report on Friday, June 7th. They issued a “neutral” rating and a $25.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. UBS Group decreased their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, BMO Capital Markets cut their price target on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Chemours presently has a consensus rating of “Hold” and a consensus target price of $26.63.

Chemours Price Performance

Shares of NYSE CC opened at $20.72 on Friday. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -9.55 and a beta of 1.74. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $32.70. The firm’s 50 day simple moving average is $19.57 and its 200-day simple moving average is $23.68. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. Chemours’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 EPS. Analysts expect that The Chemours Company will post 1.33 EPS for the current year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.83%. Chemours’s payout ratio is -46.08%.

About Chemours

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.