Corebridge Financial Inc. Trims Position in The Chemours Company $CC

Key Points

• Corebridge Financial Inc. dramatically reduced its stake in The Chemours Company by 96.5%, ending up with only 5,948 shares after selling 163,238 shares, valued at approximately $80,000.
• A number of institutional investors increased their holdings in Chemours, with Farther Finance Advisors LLC boosting their stake by 170.7% during the same quarter.
• Chemours recently reported an earnings per share (EPS) of $0.58, exceeding analysts' expectations, while also announcing a $0.0875 quarterly dividend payment.

Corebridge Financial Inc. decreased its position in shares of The Chemours Company (NYSE:CC - Free Report) by 96.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,948 shares of the specialty chemicals company's stock after selling 163,238 shares during the period. Corebridge Financial Inc.'s holdings in Chemours were worth $80,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Northern Trust Corp raised its stake in Chemours by 25.1% in the fourth quarter. Northern Trust Corp now owns 1,301,808 shares of the specialty chemicals company's stock worth $22,001,000 after buying an additional 261,009 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Chemours in the fourth quarter worth approximately $301,000. BNP Paribas Financial Markets raised its stake in Chemours by 11.2% in the fourth quarter. BNP Paribas Financial Markets now owns 14,688 shares of the specialty chemicals company's stock worth $248,000 after buying an additional 1,481 shares in the last quarter. Captrust Financial Advisors raised its stake in Chemours by 9.7% in the fourth quarter. Captrust Financial Advisors now owns 13,130 shares of the specialty chemicals company's stock worth $222,000 after buying an additional 1,165 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Chemours by 89.6% in the fourth quarter. Cetera Investment Advisers now owns 25,792 shares of the specialty chemicals company's stock worth $436,000 after buying an additional 12,190 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

Insider Activity

In other news, CEO Denise Dignam acquired 4,068 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $12.06 per share, with a total value of $49,060.08. Following the transaction, the chief executive officer owned 191,546 shares in the company, valued at approximately $2,310,044.76. This trade represents a 2.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company's stock.

Chemours Trading Down 0.0%

Shares of NYSE CC traded down $0.01 during midday trading on Friday, reaching $16.76. 1,986,903 shares of the stock were exchanged, compared to its average volume of 2,958,820. The company has a 50 day simple moving average of $14.15 and a 200 day simple moving average of $12.75. The stock has a market capitalization of $2.51 billion, a P/E ratio of -5.98 and a beta of 1.61. The company has a debt-to-equity ratio of 17.16, a quick ratio of 0.83 and a current ratio of 1.68. The Chemours Company has a twelve month low of $9.13 and a twelve month high of $22.38.

Chemours (NYSE:CC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.12. Chemours had a negative net margin of 7.19% and a positive return on equity of 35.14%. The firm had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $1.57 billion. During the same quarter last year, the company posted $0.38 EPS. The firm's quarterly revenue was up 5.0% on a year-over-year basis. Chemours has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 15th were given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 15th. Chemours's payout ratio is -12.50%.

Wall Street Analyst Weigh In

CC has been the topic of a number of recent analyst reports. Mizuho upped their price target on Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Barclays reduced their price target on Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Royal Bank Of Canada upped their target price on Chemours from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Zacks Research raised Chemours from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Finally, Wall Street Zen downgraded Chemours from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Chemours has an average rating of "Moderate Buy" and a consensus target price of $17.38.

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.