Northern Trust Corp Has $13.33 Million Stock Holdings in The Chemours Company $CC

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 lessened its holdings in The Chemours Company (NYSE:CC - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 985,328 shares of the specialty chemicals company's stock after selling 316,480 shares during the period. Northern Trust Corp owned about 0.66% of Chemours worth $13,331,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Chemours by 8.3% during 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. grew its position 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 worth $73,907,000 after purchasing an additional 839,849 shares during the last quarter. Millennium Management LLC lifted its position in shares of Chemours by 44.6% in the 4th quarter. Millennium Management LLC now owns 2,507,262 shares of the specialty chemicals company's stock worth $42,373,000 after acquiring an additional 773,537 shares during the period. American Century Companies Inc. lifted its position in shares of Chemours by 17.5% in the 1st quarter. American Century Companies Inc. now owns 1,909,149 shares of the specialty chemicals company's stock worth $25,831,000 after acquiring an additional 284,130 shares during the period. Finally, Vision One Management Partners LP raised its stake in shares of Chemours by 12.1% in 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 in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Chemours Trading Down 2.3%

Shares of CC opened at $14.98 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.68 and a debt-to-equity ratio of 17.16. The Chemours Company has a 12-month low of $9.13 and a 12-month high of $22.38. The firm has a market capitalization of $2.24 billion, a PE ratio of -5.35 and a beta of 1.61. The stock's fifty day simple moving average is $13.58 and its 200-day simple moving average is $12.80.

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 (EPS) for the quarter, beating 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 business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. Chemours has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts predict that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 15th will be paid a dividend of $0.0875 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.3%. Chemours's payout ratio is -12.50%.

Insider Activity at Chemours

In related news, CEO Denise Dignam acquired 4,068 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $12.06 per share, with a total value of $49,060.08. Following the completion of the purchase, the chief executive officer directly owned 191,546 shares in the company, valued at approximately $2,310,044.76. This trade represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CC. UBS Group reduced their target price on shares of Chemours from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Zacks Research upgraded shares of Chemours from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Wall Street Zen downgraded shares of Chemours from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group reduced their target price 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. Finally, Mizuho boosted their target price on shares of Chemours from $13.00 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.38.

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.

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