Bank of America Corp DE Lowers Stock Holdings in The Chemours Company (NYSE:CC)

Bank of America Corp DE cut its holdings in shares of The Chemours Company (NYSE:CC - Free Report) by 62.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 166,649 shares of the specialty chemicals company's stock after selling 281,888 shares during the quarter. Bank of America Corp DE owned about 0.11% of Chemours worth $2,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its position 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 acquiring an additional 1,119 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Chemours in the fourth quarter valued at approximately $48,000. Itau Unibanco Holding S.A. increased its stake in Chemours by 39.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company's stock worth $60,000 after buying an additional 1,003 shares during the period. KBC Group NV increased its position in shares of Chemours by 38.2% during the fourth quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company's stock worth $104,000 after acquiring an additional 1,708 shares during the period. Finally, Sterling Capital Management LLC increased its position in shares of Chemours by 54.8% during the fourth quarter. Sterling Capital Management LLC now owns 8,453 shares of the specialty chemicals company's stock worth $143,000 after acquiring an additional 2,991 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group decreased their target price on Chemours from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. BMO Capital Markets decreased their price objective on Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group cut 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. Wall Street Zen cut shares of Chemours from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Barclays decreased their price target on shares of Chemours from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.22.

Chemours Stock Up 1.1%

Chemours stock traded up $0.11 during mid-day trading on Wednesday, hitting $10.04. The company had a trading volume of 340,855 shares, compared to its average volume of 2,169,104. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The Chemours Company has a 1 year low of $9.13 and a 1 year high of $25.80. The business has a fifty day moving average of $11.37 and a 200 day moving average of $15.52. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 17.62 and a beta of 1.76.

Chemours (NYSE:CC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). Chemours had a net margin of 1.51% and a return on equity of 26.54%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the business earned $0.32 earnings per share. The company's quarterly revenue was up .4% on a year-over-year basis. On average, sell-side analysts expect that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, May 19th will be given a dividend of $0.0875 per share. This represents a dividend yield of 3.17%. The ex-dividend date is Friday, May 16th. Chemours's dividend payout ratio (DPR) is currently 175.00%.

Insider Activity

In other Chemours news, CFO Shane Hostetter bought 4,450 shares of the stock in a transaction dated Monday, May 19th. The shares were acquired at an average cost of $11.28 per share, for a total transaction of $50,196.00. Following the completion of the transaction, the chief financial officer now owns 59,694 shares in the company, valued at approximately $673,348.32. The trade was a 8.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company's stock.

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.