The Chemours Company (NYSE:CC) Stock Holdings Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in shares of The Chemours Company (NYSE:CC) by 3.6% during the second quarter, Holdings Channel.com reports. The firm owned 85,251 shares of the specialty chemicals company’s stock after selling 3,193 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Chemours were worth $1,924,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. New Covenant Trust Company N.A. acquired a new position in Chemours during the 1st quarter valued at about $29,000. Neo Ivy Capital Management acquired a new position in shares of Chemours during the fourth quarter valued at approximately $40,000. North Star Investment Management Corp. raised its holdings in Chemours by 1,510.0% during the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,208 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Chemours by 1,969.7% in the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 1,300 shares during the period. Finally, Headlands Technologies LLC bought a new position in Chemours during the 1st quarter valued at $42,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CC has been the subject of several research reports. The Goldman Sachs Group decreased their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Mizuho began coverage on shares of Chemours in a research report on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective for the company. Barclays dropped their target price on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Wednesday. UBS Group reduced their target price on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, BMO Capital Markets dropped their price target on Chemours from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. 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, the stock has a consensus rating of “Hold” and an average price target of $26.63.

Chemours Stock Down 4.4 %

CC stock opened at $18.69 on Thursday. The company’s 50 day simple moving average is $19.70 and its 200-day simple moving average is $23.75. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $32.70. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.89 and a quick ratio of 1.01. The firm has a market capitalization of $2.79 billion, a P/E ratio of -8.61 and a beta of 1.74.

Chemours (NYSE:CC) last announced its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.19). The firm 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%. Chemours’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.10 earnings per share. As a group, equities research analysts anticipate that The Chemours Company will post 1.33 EPS for the current year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.35%. Chemours’s payout ratio is presently -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.