The Chemours Company (NYSE:CC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in The Chemours Company (NYSE:CC) by 30.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 345,916 shares of the specialty chemicals company’s stock after selling 150,157 shares during the quarter. Principal Financial Group Inc.’s holdings in Chemours were worth $7,029,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Chemours by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,606,453 shares of the specialty chemicals company’s stock valued at $36,258,000 after acquiring an additional 22,209 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Chemours by 25.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 9,748 shares of the specialty chemicals company’s stock worth $220,000 after purchasing an additional 1,962 shares during the period. Arizona State Retirement System increased its position in Chemours by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after purchasing an additional 863 shares in the last quarter. Custom Index Systems LLC purchased a new position in Chemours in the second quarter valued at approximately $398,000. Finally, Private Management Group Inc. lifted its position in Chemours by 2.0% during the second quarter. Private Management Group Inc. now owns 456,772 shares of the specialty chemicals company’s stock valued at $10,309,000 after buying an additional 9,057 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Chemours

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

Chemours Trading Up 0.5 %

Shares of CC opened at $16.90 on Wednesday. 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 Chemours Company has a one year low of $15.10 and a one year high of $32.70. The stock has a 50-day moving average price of $19.45 and a 200 day moving average price of $20.25. The company has a market capitalization of $2.53 billion, a P/E ratio of 33.80 and a beta of 1.80.

Chemours (NYSE:CC) last released its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. Sell-side analysts forecast that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.92%. Chemours’s dividend payout ratio (DPR) is presently 200.00%.

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.