The Chemours Company (NYSE:CC) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in The Chemours Company (NYSE:CC) by 46.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,375 shares of the specialty chemicals company’s stock after selling 15,812 shares during the period. Intech Investment Management LLC’s holdings in Chemours were worth $373,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Matrix Trust Co acquired a new position in shares of Chemours in the third quarter valued at approximately $25,000. Blue Trust Inc. increased its holdings in shares of Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 731 shares during the period. Signaturefd LLC increased its holdings in shares of Chemours by 163.7% in the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 1,216 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Chemours in the second quarter valued at approximately $58,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Chemours in the third quarter valued at approximately $75,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Down 0.1 %

CC opened at $21.63 on Wednesday. The business’s fifty day moving average is $19.77 and its two-hundred day moving average is $21.19. 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 company has a market cap of $3.23 billion, a price-to-earnings ratio of 43.26 and a beta of 1.80. The Chemours Company has a one year low of $15.10 and a one year high of $32.70.

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

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.62%. Chemours’s payout ratio is 200.00%.

Insider Activity

In other news, SVP Alvenia Scarborough sold 7,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was 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 $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BMO Capital Markets boosted their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Royal Bank of Canada decreased their price target on Chemours from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. UBS Group decreased their price target on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group decreased their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $24.88.

Chemours 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.