Massachusetts Financial Services Co. MA Decreases Stock Position in The Chemours Company (NYSE:CC)

Massachusetts Financial Services Co. MA decreased its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,555,403 shares of the specialty chemicals company's stock after selling 37,667 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.04% of Chemours worth $21,045,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in shares of Chemours in the first quarter valued at about $27,000. UMB Bank n.a. grew its holdings in 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 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 purchasing an additional 1,444 shares during the period. Quadrant Capital Group LLC boosted its stake in Chemours by 100.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock worth $38,000 after purchasing an additional 1,119 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in Chemours during the 4th quarter worth $48,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chemours

In other news, insider Damian Gumpel bought 13,400 shares of the stock in a transaction on Monday, June 2nd. The stock was acquired at an average price of $9.22 per share, with a total value of $123,548.00. Following the acquisition, the insider directly owned 123,879 shares in the company, valued at approximately $1,142,164.38. This trade represents a 12.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shane Hostetter purchased 4,450 shares of Chemours stock in a transaction on Monday, May 19th. The stock was bought at an average price of $11.28 per share, for a total transaction of $50,196.00. Following the transaction, the chief financial officer directly owned 59,694 shares in the company, valued at approximately $673,348.32. The trade was a 8.06% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 25,672 shares of company stock valued at $251,573 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.

Chemours Price Performance

Shares of NYSE:CC traded down $0.10 during midday trading on Friday, reaching $13.57. The company's stock had a trading volume of 2,984,668 shares, compared to its average volume of 2,583,033. The business's fifty day simple moving average is $11.58 and its 200-day simple moving average is $13.81. The company has a market capitalization of $2.03 billion, a P/E ratio of 67.85 and a beta of 1.65. The Chemours Company has a fifty-two week low of $9.13 and a fifty-two week high of $24.50. The company has a debt-to-equity ratio of 7.01, a current ratio of 1.75 and a quick ratio of 0.83.

Chemours (NYSE:CC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Chemours had a return on equity of 23.82% and a net margin of 0.54%. Chemours's quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. As a group, equities research analysts expect that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, May 19th were paid a dividend of $0.0875 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a dividend yield of 3.17%. Chemours's dividend payout ratio is currently 175.00%.

Analysts Set New Price Targets

Several research firms have issued reports on CC. Royal Bank Of Canada raised their price target on shares of Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Mizuho raised their target price on shares of Chemours from $13.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday. Barclays decreased their target price on shares of Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Morgan Stanley cut their price target on shares of Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Finally, UBS Group cut their price target on shares of Chemours from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $17.44.

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.