Corebridge Financial Inc. Lowers Stock 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. lessened its holdings in The Chemours Company (NYSE:CC - Free Report) by 96.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,948 shares of the specialty chemicals company's stock after selling 163,238 shares during the quarter. Corebridge Financial Inc.'s holdings in Chemours were worth $80,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CC. FNY Investment Advisers LLC purchased a new stake in Chemours in the 1st quarter valued at approximately $27,000. UMB Bank n.a. boosted its stake in shares of Chemours by 73.9% during the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 948 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Chemours by 170.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 1,444 shares in the last quarter. SouthState Corp purchased a new stake in shares of Chemours during the 1st quarter worth approximately $34,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Chemours during the 4th quarter worth approximately $91,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

Chemours Trading Up 3.8%

Shares of Chemours stock opened at $16.26 on Tuesday. The company has a debt-to-equity ratio of 17.16, a current ratio of 1.68 and a quick ratio of 0.83. The Chemours Company has a 1 year low of $9.13 and a 1 year high of $22.38. The company has a market capitalization of $2.43 billion, a P/E ratio of -5.81 and a beta of 1.61. The business has a 50 day moving average price of $13.83 and a 200 day moving average price of $12.71.

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

Chemours Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 15th will be issued a $0.0875 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.35 annualized dividend and a yield of 2.2%. Chemours's payout ratio is -12.50%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CC. Wall Street Zen lowered Chemours from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Barclays decreased their price target on Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. Royal Bank Of Canada boosted their price target on Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Morgan Stanley decreased their price target on Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Finally, Zacks Research raised Chemours from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Chemours has a consensus rating of "Moderate Buy" and a consensus target price of $17.38.

Insiders Place Their Bets

In other Chemours news, CEO Denise Dignam purchased 4,068 shares of the business's stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $12.06 per share, for a total transaction of $49,060.08. Following the acquisition, the chief executive officer owned 191,546 shares of the company's stock, valued at approximately $2,310,044.76. The trade was a 2.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.34% of the company's stock.

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.

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