M&T Bank Corp Reduces Stake in The Chemours Company (NYSE:CC)

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

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Corient Private Wealth LLC grew its position in shares of Chemours by 4.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,428 shares of the specialty chemicals company's stock worth $227,000 after buying an additional 604 shares during the period. HUB Investment Partners LLC grew its position in shares of Chemours by 1.4% in the 4th 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 period. UMB Bank n.a. grew its position in shares of Chemours by 73.9% in the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 948 shares during the period. Itau Unibanco Holding S.A. grew its position in shares of Chemours by 39.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company's stock worth $60,000 after buying an additional 1,003 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of Chemours by 100.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 1,119 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Insider Transactions at Chemours

In other news, insider Damian Gumpel bought 13,400 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was purchased at an average cost of $9.22 per share, for a total transaction of $123,548.00. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shane Hostetter bought 4,450 shares of Chemours 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 purchase, the chief financial officer owned 59,694 shares in the company, valued at approximately $673,348.32. This trade represents a 8.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 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 Trading Down 1.7%

Shares of NYSE:CC traded down $0.24 on Friday, hitting $13.81. 3,892,089 shares of the company's stock were exchanged, compared to its average volume of 2,537,633. The Chemours Company has a 12 month low of $9.13 and a 12 month high of $25.54. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 13.77 and a beta of 1.65. The business's 50 day simple moving average is $11.36 and its two-hundred day simple moving average is $13.99. 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 released its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm 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 business's revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Analysts anticipate that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on CC shares. UBS Group cut their price objective on shares of Chemours from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Truist Financial cut their price objective on shares of Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Mizuho set a $15.00 price objective on shares of Chemours in a research report on Tuesday, April 15th. The Goldman Sachs Group dropped their price target on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, May 14th. Finally, Wall Street Zen downgraded shares of Chemours from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Chemours has an average rating of "Hold" and an average price target 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.