Rhumbline Advisers Has $4.70 Million Stock Position in The Chemours Company (NYSE:CC)

Rhumbline Advisers decreased its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 14.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 346,998 shares of the specialty chemicals company's stock after selling 57,281 shares during the quarter. Rhumbline Advisers owned about 0.23% of Chemours worth $4,695,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP bought a new position in shares of Chemours during the 4th quarter worth approximately $266,000. Strategic Financial Concepts LLC bought a new position in shares of Chemours during the 4th quarter worth approximately $357,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Chemours by 9.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 111,361 shares of the specialty chemicals company's stock worth $1,882,000 after acquiring an additional 9,691 shares during the period. Peregrine Capital Management LLC bought a new position in shares of Chemours during the 4th quarter worth approximately $5,731,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Chemours during the 4th quarter worth approximately $996,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Chemours Price Performance

Shares of NYSE:CC traded down $0.49 during trading on Friday, reaching $10.98. 2,965,626 shares of the company traded hands, compared to its average volume of 2,239,812. The company's 50 day moving average is $11.24 and its two-hundred day moving average is $15.04. The firm has a market capitalization of $1.64 billion, a PE ratio of 19.26 and a beta of 1.64. 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 52 week low of $9.13 and a 52 week high of $25.79.

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

Chemours Dividend Announcement

The business 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. The ex-dividend date is Friday, May 16th. This represents a dividend yield of 3.17%. Chemours's payout ratio is 175.00%.

Insider Activity

In other Chemours news, CFO Shane Hostetter purchased 4,450 shares of the stock in a transaction dated Monday, May 19th. The stock was bought at an average price of $11.28 per share, with a total value of $50,196.00. Following the acquisition, the chief financial officer now 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Damian Gumpel purchased 13,400 shares of the stock in a transaction dated Monday, June 2nd. The shares were acquired at an average cost of $9.22 per share, with a total value of $123,548.00. Following the acquisition, the insider now directly owns 123,879 shares in the company, valued at $1,142,164.38. This represents a 12.13% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 25,672 shares of company stock worth $251,573. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays reduced their target price on Chemours from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Wall Street Zen downgraded Chemours from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Truist Financial reduced their price target on Chemours from $27.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Mizuho set a $15.00 price target on Chemours in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group reduced their price target on 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $17.22.

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.