UBS Group AG Has $42.27 Million Holdings in The Chemours Company $CC

Key Points

• UBS Group AG trimmed its stake in The Chemours Company by 24.6% in Q4, selling 1,169,293 shares and ending the quarter with 3,585,199 shares worth about $42.27 million (2.39% ownership).
• Analyst sentiment is mixed but leaning cautious: several firms raised price targets (UBS to $29, Truist to $30), yet the consensus rating is an average "Hold" with an average price target of $21.60.
• Chemours recently reported an earnings beat (EPS $0.05 vs. -$0.05 estimate) with revenue of $1.38B (slightly below expectations) and announced a quarterly dividend of $0.0875 per share (annualized yield ~1.5%).

UBS Group AG trimmed its holdings in The Chemours Company (NYSE:CC - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,585,199 shares of the specialty chemicals company's stock after selling 1,169,293 shares during the period. UBS Group AG owned 2.39% of Chemours worth $42,269,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Baird Financial Group Inc. acquired a new stake in Chemours during the 1st quarter valued at $148,000. Royal Bank of Canada lifted its stake in shares of Chemours by 6.8% during the 1st quarter. Royal Bank of Canada now owns 585,702 shares of the specialty chemicals company's stock worth $7,926,000 after buying an additional 37,382 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Chemours during the 1st quarter worth about $161,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Chemours by 149.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,243 shares of the specialty chemicals company's stock valued at $593,000 after buying an additional 25,899 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in Chemours in the 1st quarter valued at about $403,000. Institutional investors own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CC. Morgan Stanley boosted their price objective on Chemours from $15.00 to $17.00 and gave the stock an "equal weight" rating in a report on Monday, February 23rd. UBS Group lifted their price target on Chemours from $23.00 to $29.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Truist Financial boosted their price target on Chemours from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Chemours in a report on Monday, April 20th. Finally, Zacks Research upgraded Chemours from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $21.60.

Chemours Stock Performance

Shares of NYSE:CC opened at $23.76 on Thursday. The Chemours Company has a 12-month low of $9.13 and a 12-month high of $28.67. The company's 50 day moving average price is $21.08 and its two-hundred day moving average price is $16.55. The firm has a market cap of $3.57 billion, a PE ratio of -9.00 and a beta of 1.47. The company has a quick ratio of 0.85, a current ratio of 1.78 and a debt-to-equity ratio of 16.33.

Chemours (NYSE:CC - Get Free Report) last issued 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 business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.40 billion. Chemours had a positive return on equity of 50.13% and a negative net margin of 6.82%.The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. Equities research analysts predict that The Chemours Company will post 1.35 earnings per share for the current year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th will be given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 15th. Chemours's dividend payout ratio is presently -14.11%.

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.