Stifel Financial Corp Sells 17,540 Shares of The Chemours Company (NYSE:CC)

Stifel Financial Corp lowered its holdings in The Chemours Company (NYSE:CC) by 50.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,146 shares of the specialty chemicals company’s stock after selling 17,540 shares during the period. Stifel Financial Corp’s holdings in Chemours were worth $348,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CC. Appian Way Asset Management LP purchased a new stake in Chemours during the 3rd quarter valued at about $34,151,000. Marshall Wace LLP boosted its stake in shares of Chemours by 23.8% during the second quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after purchasing an additional 1,347,710 shares during the period. 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. Scopia Capital Management LP purchased a new position in shares of Chemours in the third quarter worth $13,623,000. Finally, FMR LLC raised its holdings in Chemours by 3.5% during the 3rd quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock valued at $368,650,000 after buying an additional 618,361 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Insider Activity

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

Chemours Price Performance

CC stock opened at $17.01 on Friday. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The firm has a 50 day moving average price of $19.49 and a 200-day moving average price of $20.36. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $32.70. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 34.02 and a beta of 1.80.

Chemours (NYSE:CC) last released its earnings results 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. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. Equities research analysts forecast that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.88%. Chemours’s payout ratio is currently 200.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. The Goldman Sachs Group dropped their price objective on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. BMO Capital Markets boosted their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Chemours in a research report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.88.

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.