RFG Advisory LLC Cuts Holdings in The Chemours Company $CC

Key Points

• RFG Advisory LLC cut its Chemours stake by 47.7% in the fourth quarter, selling 51,435 shares and ending with 56,320 shares valued at about $664,000.
• Institutional ownership remains high, with 76.26% of Chemours shares held by institutions and hedge funds, even as several investors recently adjusted positions.
• Analysts are cautiously optimistic: Chemours has an average "Hold" rating and a consensus price target of $21.70, while the stock recently traded at $23.06 after the company beat EPS estimates in its latest quarter.

RFG Advisory LLC lessened its stake in The Chemours Company (NYSE:CC - Free Report) by 47.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,320 shares of the specialty chemicals company's stock after selling 51,435 shares during the quarter. RFG Advisory LLC's holdings in Chemours were worth $664,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Chemours during the third quarter worth $43,000. Advisory Services Network LLC purchased a new stake in Chemours in the third quarter valued at approximately $54,000. Hantz Financial Services Inc. lifted its stake in Chemours by 334.2% in the third quarter. Hantz Financial Services Inc. now owns 4,329 shares of the specialty chemicals company's stock valued at $69,000 after buying an additional 3,332 shares during the last quarter. CWM LLC boosted its holdings in shares of Chemours by 32.4% in the third quarter. CWM LLC now owns 5,682 shares of the specialty chemicals company's stock valued at $90,000 after acquiring an additional 1,392 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Chemours during the second quarter worth approximately $116,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CC shares. The Goldman Sachs Group raised their price objective on shares of Chemours from $14.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. Morgan Stanley upped their target price on shares of Chemours from $15.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, February 23rd. JPMorgan Chase & Co. increased their target price on shares of Chemours from $13.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, February 23rd. Truist Financial boosted their price target on Chemours from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Finally, Zacks Research raised Chemours from a "strong sell" rating to a "hold" rating in a research note on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $21.70.

Chemours Stock Performance

Shares of CC stock opened at $23.06 on Monday. The stock has a fifty day moving average price of $21.15 and a 200 day moving average price of $16.61. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82. The stock has a market cap of $3.47 billion, a PE ratio of -8.73 and a beta of 1.47. The Chemours Company has a 1 year low of $9.13 and a 1 year high of $28.67.

Chemours (NYSE:CC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.10. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Sell-side analysts forecast that The Chemours Company will post 1.32 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Sunday, May 17th will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a yield of 1.5%. Chemours's dividend payout ratio is presently -13.26%.

Chemours Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours' principal business activities are organized into three core segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.