M&T Bank Corp Trims Holdings in The Chemours Company (NYSE:CC)

M&T Bank Corp lessened its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 440,153 shares of the specialty chemicals company's stock after selling 47,492 shares during the quarter. M&T Bank Corp owned approximately 0.29% of Chemours worth $5,956,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Corient Private Wealth LLC boosted its holdings in Chemours by 4.7% in the fourth quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company's stock valued at $227,000 after purchasing an additional 604 shares during the last quarter. HUB Investment Partners LLC boosted its stake in shares of Chemours by 1.4% in the fourth quarter. HUB Investment Partners LLC now owns 58,250 shares of the specialty chemicals company's stock worth $984,000 after buying an additional 821 shares during the last quarter. UMB Bank n.a. grew its holdings in Chemours by 73.9% during the first 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 during the period. Itau Unibanco Holding S.A. grew its holdings in Chemours by 39.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company's stock worth $60,000 after acquiring an additional 1,003 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in Chemours by 100.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 1,119 shares during the period. Institutional investors own 76.26% of the company's stock.

Chemours Trading Down 2.5%

NYSE:CC traded down $0.35 during mid-day trading on Monday, hitting $13.48. The company had a trading volume of 2,975,920 shares, compared to its average volume of 2,545,286. The business's fifty day moving average is $11.38 and its two-hundred day moving average is $13.91. The Chemours Company has a fifty-two week low of $9.13 and a fifty-two week high of $25.54. The firm has a market cap of $2.02 billion, a P/E ratio of 67.38 and a beta of 1.65. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.83 and a current ratio of 1.75.

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

Chemours Dividend Announcement

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

Insider Transactions at Chemours

In related news, insider Damian Gumpel bought 13,400 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were acquired at an average cost of $9.22 per share, with a total value of $123,548.00. Following the completion of the purchase, the insider directly owned 123,879 shares in the company, valued at $1,142,164.38. The trade was a 12.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shane Hostetter bought 4,450 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were acquired at an average cost of $11.28 per share, with a total value of $50,196.00. Following the completion of the transaction, the chief financial officer owned 59,694 shares of the company's stock, valued at $673,348.32. This represents a 8.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 25,672 shares of company stock valued at $251,573 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CC shares. Truist Financial lowered their price objective on Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Royal Bank Of Canada upped their price target on Chemours from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. The Goldman Sachs Group dropped their price objective on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 14th. UBS Group lowered their price objective on Chemours from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Morgan Stanley lowered their target price on Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $17.33.

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.