The Chemours Company $CC Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its holdings in The Chemours Company by 24.3%, now owning approximately 0.66% of the company, valued at $13.33 million.
• The Chemours Company recently reported earnings of $0.58 per share, surpassing expectations and generating revenue of $1.62 billion for the quarter.
• Chemours announced a quarterly dividend of $0.0875 per share, reflecting an annualized yield of 2.3%, but has a negative payout ratio of -12.50%.

Northern Trust Corp lowered its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 24.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 985,328 shares of the specialty chemicals company's stock after selling 316,480 shares during the quarter. Northern Trust Corp owned about 0.66% of Chemours worth $13,331,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CC. Vanguard Group Inc. boosted its holdings in Chemours by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 16,487,008 shares of the specialty chemicals company's stock valued at $223,069,000 after purchasing an additional 1,263,047 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Chemours by 23.8% in 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 purchasing an additional 839,849 shares in the last quarter. Millennium Management LLC boosted its holdings in Chemours by 44.6% in 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 purchasing an additional 773,537 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in Chemours in the 1st quarter valued at approximately $6,411,000. Finally, Balyasny Asset Management L.P. boosted its holdings in Chemours by 90.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 935,031 shares of the specialty chemicals company's stock valued at $15,802,000 after purchasing an additional 445,335 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CC shares. Zacks Research raised Chemours from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Morgan Stanley decreased their price target 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. Barclays decreased their price target on Chemours from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. The Goldman Sachs Group decreased their price target on Chemours from $21.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada boosted their price target on Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Chemours currently has a consensus rating of "Moderate Buy" and an average target price of $17.38.

Chemours Trading Down 0.5%

CC traded down $0.08 during trading on Tuesday, hitting $16.17. The company's stock had a trading volume of 641,964 shares, compared to its average volume of 3,521,602. The firm's 50 day moving average price is $13.83 and its 200-day moving average price is $12.71. The company has a debt-to-equity ratio of 17.16, a current ratio of 1.68 and a quick ratio of 0.83. The stock has a market cap of $2.42 billion, a PE ratio of -5.76 and a beta of 1.61. The Chemours Company has a twelve month low of $9.13 and a twelve month high of $22.38.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.12. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.57 billion. Chemours had a positive return on equity of 35.14% and a negative net margin of 7.19%.Chemours's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. Chemours has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 15th will be issued a $0.0875 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.35 annualized dividend and a yield of 2.2%. Chemours's payout ratio is -12.50%.

Insider Activity at Chemours

In other news, CEO Denise Dignam acquired 4,068 shares of the company's stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $12.06 per share, for a total transaction of $49,060.08. Following the acquisition, the chief executive officer directly owned 191,546 shares in the company, valued at approximately $2,310,044.76. This represents a 2.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is currently owned by insiders.

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.