The Chemours Company (NYSE:CC) Stake Decreased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in shares of The Chemours Company (NYSE:CC) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,623 shares of the specialty chemicals company’s stock after selling 3,997 shares during the period. Commonwealth Equity Services LLC’s holdings in Chemours were worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Panagora Asset Management Inc. raised its holdings in shares of Chemours by 25.2% during the second quarter. Panagora Asset Management Inc. now owns 9,748 shares of the specialty chemicals company’s stock valued at $220,000 after buying an additional 1,962 shares during the last quarter. Presidio Capital Management LLC bought a new stake in shares of Chemours during the second quarter valued at approximately $542,000. Bank of New York Mellon Corp increased its stake in shares of Chemours by 1.4% during 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 period. Secure Asset Management LLC increased its stake in shares of Chemours by 3.3% during the second quarter. Secure Asset Management LLC now owns 55,485 shares of the specialty chemicals company’s stock valued at $1,252,000 after acquiring an additional 1,767 shares during the period. Finally, DT Investment Partners LLC acquired a new position in shares of Chemours during the second quarter valued at approximately $198,000. Institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CC shares. Barclays lowered their price objective on shares of Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. BMO Capital Markets lowered their price objective on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. UBS Group lowered their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group decreased their price target on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Finally, Mizuho started coverage on shares of Chemours in a research report on Friday, June 7th. They issued a “neutral” rating and a $25.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Chemours presently has a consensus rating of “Hold” and an average price target of $26.75.

Chemours Trading Up 4.7 %

Shares of NYSE:CC opened at $17.95 on Friday. The firm has a fifty day moving average of $20.52 and a two-hundred day moving average of $23.98. The firm has a market capitalization of $2.68 billion, a P/E ratio of -8.27 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 company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45.

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

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend was Thursday, August 15th. Chemours’s dividend payout ratio (DPR) is currently -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.