LSV Asset Management Sells 248,900 Shares of The Chemours Company (NYSE:CC)

Key Points

• LSV Asset Management sold 248,900 shares of The Chemours Company, reducing its holdings by 19.9%, now owning 999,500 shares valued at $13.5 million.
• Insider trading activity includes Damian Gumpel acquiring 7,822 shares and CFO Shane Hostetter purchasing 4,450 shares, indicating confidence from company insiders.
• Analyst ratings for Chemours vary, with target prices ranging from $13.00 to $17.44, and an average rating of "Hold" amidst fluctuations in buying and selling activity from institutional investors.

LSV Asset Management trimmed its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 19.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 999,500 shares of the specialty chemicals company's stock after selling 248,900 shares during the quarter. LSV Asset Management owned about 0.67% of Chemours worth $13,523,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in Chemours in the 1st quarter valued at $27,000. UMB Bank n.a. increased its position in Chemours by 73.9% during the 1st quarter. UMB Bank n.a. now owns 2,231 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 948 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Chemours by 170.7% during the first quarter. Farther Finance Advisors LLC now owns 2,290 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 1,444 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Chemours by 100.4% in the fourth 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 during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Chemours in the fourth quarter valued at about $48,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen lowered shares of Chemours from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. UBS Group lowered their target price on shares of Chemours from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group dropped 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. Royal Bank Of Canada increased their price target on Chemours from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Finally, Morgan Stanley lowered their price objective 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Chemours presently has a consensus rating of "Hold" and an average target price of $17.38.

Chemours Price Performance

Shares of NYSE CC traded down $0.01 during trading hours on Friday, hitting $12.18. 2,303,044 shares of the stock were exchanged, compared to its average volume of 3,516,573. The company's fifty day simple moving average is $12.18 and its two-hundred day simple moving average is $13.35. The company has a market cap of $1.82 billion, a PE ratio of -4.35 and a beta of 1.61. The company has a debt-to-equity ratio of 17.16, a quick ratio of 0.83 and a current ratio of 1.68. The Chemours Company has a 1-year low of $9.13 and a 1-year high of $22.38.

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

Chemours Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 15th will be given a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, August 15th. Chemours's payout ratio is currently -12.50%.

Insider Transactions at Chemours

In related news, insider Damian Gumpel bought 13,400 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was purchased at an average price of $9.22 per share, with a total value of $123,548.00. Following the completion of the acquisition, the insider owned 123,879 shares of the company's stock, valued at $1,142,164.38. The trade was a 12.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shane Hostetter purchased 4,450 shares of Chemours stock in a transaction dated Monday, May 19th. The stock was bought at an average price of $11.28 per share, for a total transaction of $50,196.00. Following the completion of the purchase, the chief financial officer owned 59,694 shares in the company, valued at $673,348.32. This represents a 8.06% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 25,672 shares of company stock worth $251,573. 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.