Mutual of America Capital Management LLC Lowers Stock Position in The Chemours Company (NYSE:CC)

Mutual of America Capital Management LLC lowered its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 72.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in shares of Chemours during the first quarter worth about $27,000. UMB Bank n.a. boosted its holdings in Chemours by 73.9% in the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 948 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Chemours by 100.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 1,119 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Chemours by 170.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 1,444 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Chemours in the 4th quarter valued at approximately $48,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

Chemours Price Performance

Shares of Chemours stock traded up $0.16 during trading on Friday, hitting $14.16. 2,802,093 shares of the company were exchanged, compared to its average volume of 4,964,267. The company has a quick ratio of 0.83, a current ratio of 1.75 and a debt-to-equity ratio of 7.01. The Chemours Company has a fifty-two week low of $9.13 and a fifty-two week high of $24.50. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 70.82 and a beta of 1.65. The firm has a 50 day moving average price of $11.83 and a 200 day moving average price of $13.70.

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

Chemours Announces Dividend

The firm also recently declared 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 of this dividend was Friday, May 16th. This represents a yield of 3.17%. Chemours's dividend payout ratio (DPR) is presently 175.00%.

Analyst Ratings Changes

CC has been the topic of a number of analyst reports. Barclays lowered their price objective on Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. Truist Financial lowered their price objective on Chemours from $27.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, April 14th. UBS Group reduced their price target on shares of Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Mizuho lifted their price target on shares of Chemours from $13.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, The Goldman Sachs Group reduced their price target on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating for the company in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $17.44.

Insider Buying and Selling at Chemours

In other Chemours news, insider Damian Gumpel purchased 13,400 shares of the business's stock in a transaction on Monday, June 2nd. The stock was bought at an average cost of $9.22 per share, for a total transaction of $123,548.00. Following the acquisition, the insider owned 123,879 shares of the company's stock, valued at approximately $1,142,164.38. The trade was a 12.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shane Hostetter purchased 4,450 shares of the business's stock in a transaction on Monday, May 19th. The stock was acquired at an average price of $11.28 per share, with a total value of $50,196.00. Following the completion of the acquisition, the chief financial officer directly owned 59,694 shares in the company, valued at $673,348.32. The trade was a 8.06% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 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 insiders.

Chemours Company 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.