Amalgamated Bank Sells 24,033 Shares of The Chemours Company (NYSE:CC)

Amalgamated Bank lessened its holdings in The Chemours Company (NYSE:CC) by 25.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,526 shares of the specialty chemicals company’s stock after selling 24,033 shares during the period. Amalgamated Bank’s holdings in Chemours were worth $1,413,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Marshall Wace LLP raised its position in 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 raised its holdings in Chemours by 54.6% during the 2nd quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock valued at $78,016,000 after buying an additional 1,220,967 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in Chemours by 6.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,824,301 shares of the specialty chemicals company’s stock worth $63,744,000 after buying an additional 178,625 shares during the last quarter. American Century Companies Inc. lifted its position in Chemours by 26.7% in the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock worth $40,896,000 after buying an additional 382,100 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in 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 worth $36,258,000 after buying an additional 22,209 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Insider Activity at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Chemours Trading Down 0.7 %

CC opened at $19.16 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. The stock’s fifty day moving average is $19.07 and its two-hundred day moving average is $21.88. The company has a market capitalization of $2.86 billion, a P/E ratio of 38.32 and a beta of 1.75. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $32.70.

Chemours (NYSE:CC) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. Analysts forecast that The Chemours Company will post 1.35 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.22%. Chemours’s payout ratio is presently 200.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CC shares. Barclays increased their target price on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. decreased 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 dropped their target price on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. BMO Capital Markets increased their price target on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada dropped their price objective on Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.