Amalgamated Bank Sells 7,826 Shares of The Chemours Company (NYSE:CC)

Amalgamated Bank reduced its stake in shares of The Chemours Company (NYSE:CC) by 7.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 93,559 shares of the specialty chemicals company’s stock after selling 7,826 shares during the period. Amalgamated Bank’s holdings in Chemours were worth $2,112,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Burney Co. lifted its stake in Chemours by 0.3% during the first quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock worth $5,174,000 after purchasing an additional 601 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Chemours by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 65,924 shares of the specialty chemicals company’s stock valued at $2,079,000 after buying an additional 640 shares in the last quarter. Lavaca Capital LLC lifted its position in Chemours by 2.7% in the 1st quarter. Lavaca Capital LLC now owns 24,658 shares of the specialty chemicals company’s stock worth $648,000 after buying an additional 641 shares during the last quarter. Arizona State Retirement System boosted its stake in Chemours by 2.1% in the second quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after buying an additional 863 shares in the last quarter. Finally, State of Michigan Retirement System grew its position in Chemours by 2.5% during the first quarter. State of Michigan Retirement System now owns 36,479 shares of the specialty chemicals company’s stock valued at $958,000 after acquiring an additional 900 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Trading Up 4.1 %

NYSE CC opened at $19.54 on Wednesday. The stock has a market cap of $2.91 billion, a P/E ratio of -9.00 and a beta of 1.74. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $32.70. The stock has a 50 day simple moving average of $19.81 and a two-hundred day simple moving average of $23.79. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89.

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

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date was Thursday, August 15th. Chemours’s payout ratio is currently -46.08%.

Analyst Upgrades and Downgrades

CC has been the subject of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. UBS Group cut their price target 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. Mizuho started coverage on Chemours in a report on Friday, June 7th. They issued a “neutral” rating and a $25.00 price objective on the stock. BMO Capital Markets dropped their target price on Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Finally, Barclays decreased their price target on Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Chemours presently has an average rating of “Hold” and an average target price of $26.75.

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.