Rhumbline Advisers Sells 57,281 Shares of The Chemours Company (NYSE:CC)

Rhumbline Advisers reduced its position in The Chemours Company (NYSE:CC - Free Report) by 14.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 346,998 shares of the specialty chemicals company's stock after selling 57,281 shares during the period. Rhumbline Advisers owned about 0.23% of Chemours worth $4,695,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CC. Norges Bank acquired a new position in shares of Chemours in the fourth quarter valued at $30,702,000. Bank of Montreal Can boosted its holdings in shares of Chemours by 1,496.4% during the 4th quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company's stock worth $16,110,000 after buying an additional 893,530 shares during the period. Ameriprise Financial Inc. grew its stake 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 buying an additional 839,849 shares during the last quarter. Millennium Management LLC raised 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 acquiring an additional 773,537 shares during the period. Finally, Invesco Ltd. lifted its position in Chemours by 141.5% during the fourth quarter. Invesco Ltd. now owns 1,020,001 shares of the specialty chemicals company's stock worth $17,238,000 after acquiring an additional 597,638 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

Chemours Price Performance

CC stock traded down $0.16 during midday trading on Tuesday, reaching $10.78. The company had a trading volume of 2,757,729 shares, compared to its average volume of 2,249,244. The Chemours Company has a 1-year low of $9.13 and a 1-year high of $25.54. The stock has a 50 day moving average price of $11.25 and a 200-day moving average price of $14.84. The company has a debt-to-equity ratio of 7.01, a current ratio of 1.75 and a quick ratio of 0.83. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 53.88 and a beta of 1.64.

Chemours (NYSE:CC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Chemours had a net margin of 0.54% and a return on equity of 23.82%. Chemours's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Equities research analysts expect that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, May 19th were paid a $0.0875 dividend. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 3.17%. Chemours's payout ratio is 175.00%.

Insider Transactions at Chemours

In related news, insider Damian Gumpel purchased 7,822 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were bought at an average cost of $9.95 per share, with a total value of $77,828.90. Following the acquisition, the insider now owns 131,701 shares of the company's stock, valued at $1,310,424.95. This trade represents a 6.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Shane Hostetter bought 4,450 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now directly owns 59,694 shares of the company's stock, valued at approximately $673,348.32. This represents a 8.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 25,672 shares of company stock valued at $251,573. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CC shares. BMO Capital Markets decreased their target price on Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley decreased their price objective on Chemours from $22.00 to $15.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. UBS Group dropped 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. Royal Bank Of Canada reduced their target price on shares of Chemours from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group dropped their price objective on shares of Chemours from $21.00 to $14.00 and set a "neutral" rating for the company in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Chemours has an average rating of "Hold" and a consensus price target of $17.22.

About Chemours

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.