State Street Corp Lowers Stock Position in The Chemours Company (NYSE:CC)

State Street Corp reduced its stake in The Chemours Company (NYSE:CC) by 2.3% during the third quarter, HoldingsChannel reports. The firm owned 4,548,019 shares of the specialty chemicals company’s stock after selling 109,125 shares during the period. State Street Corp’s holdings in Chemours were worth $92,416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CC. FMR LLC grew its position in Chemours by 3.5% during the third quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after acquiring an additional 618,361 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Chemours by 23.8% in the second quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock worth $158,213,000 after purchasing an additional 1,347,710 shares during the last quarter. Khrom Capital Management LLC grew its holdings in shares of Chemours by 54.6% in the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after purchasing an additional 1,220,967 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Chemours by 26.7% in the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock worth $40,896,000 after purchasing an additional 382,100 shares during the last quarter. Finally, Appian Way Asset Management LP bought a new position in shares of Chemours in the third quarter worth approximately $34,151,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Chemours Stock Performance

CC opened at $18.76 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 37.52 and a beta of 1.80. The company’s 50 day moving average is $19.90 and its 200 day moving average is $20.72. The Chemours Company has a 12-month low of $15.10 and a 12-month high of $32.70.

Chemours (NYSE:CC) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business posted $0.64 EPS. Chemours’s revenue was up .9% on a year-over-year basis. On average, equities research analysts predict that The Chemours Company will post 1.35 EPS for the current year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.33%. The ex-dividend date was Friday, November 15th. Chemours’s dividend payout ratio (DPR) is currently 200.00%.

Insider Activity

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the sale, the senior vice president now owns 16,645 shares in the company, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

CC has been the topic of several recent analyst reports. Morgan Stanley cut their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. BMO Capital Markets raised their target price on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. The Goldman Sachs Group dropped their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Chemours in a research note on Thursday, December 12th. Finally, Barclays raised their price target on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Chemours currently has a consensus rating of “Hold” and an average price target of $24.88.

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.