Mutual of America Capital Management LLC lessened its holdings in shares of The Chemours Company (NYSE:CC - Free Report) by 72.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,756 shares of the specialty chemicals company's stock after selling 57,169 shares during the quarter. Mutual of America Capital Management LLC's holdings in Chemours were worth $294,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Chemours by 8.3% in the first quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company's stock valued at $223,069,000 after acquiring an additional 1,263,047 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Chemours by 23.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,373,172 shares of the specialty chemicals company's stock valued at $73,907,000 after buying an additional 839,849 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Chemours by 44.6% during the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company's stock valued at $42,373,000 after buying an additional 773,537 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Chemours by 22.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,779,702 shares of the specialty chemicals company's stock valued at $30,077,000 after buying an additional 328,414 shares during the last quarter. Finally, Vision One Management Partners LP boosted its stake in shares of Chemours by 12.1% during the 4th quarter. Vision One Management Partners LP now owns 1,558,498 shares of the specialty chemicals company's stock valued at $26,339,000 after buying an additional 168,148 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.
Insiders Place Their Bets
In related news, CEO Denise Dignam bought 4,068 shares of the company's stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $12.06 per share, with a total value of $49,060.08. Following the completion of the transaction, the chief executive officer directly owned 191,546 shares of the company's stock, valued at approximately $2,310,044.76. This represents a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Damian Gumpel bought 7,822 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was bought at an average cost of $9.95 per share, for a total transaction of $77,828.90. Following the completion of the transaction, the insider directly owned 131,701 shares of the company's stock, valued at $1,310,424.95. This trade represents a 6.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 29,740 shares of company stock valued at $300,633 over the last three months. Company insiders own 0.47% of the company's stock.
Chemours Stock Performance
CC traded down $0.48 during trading hours on Friday, hitting $14.59. 4,347,227 shares of the stock were exchanged, compared to its average volume of 3,591,316. The stock has a 50-day simple moving average of $12.50 and a 200-day simple moving average of $13.12. The Chemours Company has a 12 month low of $9.13 and a 12 month high of $22.38. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -5.21 and a beta of 1.61. The company has a debt-to-equity ratio of 17.16, a current ratio of 1.68 and a quick ratio of 0.83.
Chemours (NYSE:CC - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $1.57 billion. During the same period last year, the business posted $0.38 earnings per share. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. Analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current year.
Chemours Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 15th will be given a $0.0875 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.35 annualized dividend and a yield of 2.4%. Chemours's dividend payout ratio (DPR) is currently -12.50%.
Analyst Ratings Changes
Several equities analysts have recently commented on CC shares. Royal Bank Of Canada increased their target price on Chemours from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Barclays reduced their target price on Chemours from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Wall Street Zen cut Chemours from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Mizuho increased their target price on Chemours from $13.00 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley reduced their price objective 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Chemours has an average rating of "Hold" and a consensus price target of $17.38.
Check Out Our Latest Analysis on Chemours
About Chemours
(
Free Report)
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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