WINTON GROUP Ltd Sells 86,344 Shares of The Chemours Company $CC

Key Points

• WINTON GROUP Ltd cut its Chemours stake by 77.7%, selling 86,344 shares and retaining 24,832 shares valued at approximately $510,000. Institutional investors collectively own 76.26% of the company.
• Analysts maintain a generally cautious outlook, with a consensus rating of “Hold” and a $20.10 price target. Chemours shares opened at $14.70, well below their 52-week high of $28.67.
• Chemours missed quarterly earnings and revenue expectations, reporting $0.42 in EPS on $1.59 billion in revenue. The company paid a quarterly dividend of $0.0875, while insiders bought 8,663 shares in the latest quarter.

WINTON GROUP Ltd reduced its position in shares of The Chemours Company (NYSE:CC - Free Report) by 77.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,832 shares of the specialty chemicals company's stock after selling 86,344 shares during the period. WINTON GROUP Ltd's holdings in Chemours were worth $510,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Parallel Advisors LLC raised its holdings in Chemours by 10.9% in the 1st quarter. Parallel Advisors LLC now owns 5,366 shares of the specialty chemicals company's stock worth $118,000 after acquiring an additional 527 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Chemours by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company's stock valued at $404,000 after acquiring an additional 600 shares during the period. Rothschild Investment LLC grew its position in shares of Chemours by 87.0% in the fourth quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 1,255 shares during the last quarter. Abel Hall LLC grew its position in shares of Chemours by 12.6% in the first quarter. Abel Hall LLC now owns 12,267 shares of the specialty chemicals company's stock valued at $270,000 after purchasing an additional 1,369 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Chemours in the second quarter valued at about $34,000. 76.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Mizuho set a $22.00 price objective on Chemours in a research report on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $17.00 target price on shares of Chemours in a report on Thursday, August 13th. Weiss Ratings downgraded Chemours from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Zacks Research upgraded Chemours from a "strong sell" rating to a "hold" rating in a report on Thursday, September 10th. Finally, JPMorgan Chase & Co. cut their price target on Chemours from $22.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $20.10.

Chemours Stock Performance

NYSE:CC opened at $14.70 on Wednesday. The firm's 50-day moving average is $16.24 and its 200-day moving average is $19.60. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -7.70 and a beta of 1.42. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.88 and a current ratio of 1.66. The Chemours Company has a 52-week low of $10.44 and a 52-week high of $28.67.

Chemours (NYSE:CC - Get Free Report) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.07). Chemours had a negative net margin of 5.00% and a positive return on equity of 60.64%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business posted ($2.54) EPS. The firm's quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts anticipate that The Chemours Company will post 0.87 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were issued a $0.0875 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.35 annualized dividend and a yield of 2.4%. Chemours's dividend payout ratio is -18.32%.

Insider Buying and Selling at Chemours

In other news, insider Calderon Gerardo Familiar acquired 1,935 shares of Chemours stock in a transaction on Wednesday, August 12th. The stock was bought at an average price of $15.53 per share, for a total transaction of $30,050.55. Following the transaction, the insider owned 58,547 shares of the company's stock, valued at $909,234.91. The trade was a 3.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shane Hostetter acquired 3,350 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were purchased at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the acquisition, the chief financial officer directly owned 102,698 shares in the company, valued at $1,534,308.12. This represents a 3.37% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 8,663 shares of company stock valued at $130,601 in the last quarter. Corporate insiders own 0.85% of the company's stock.

About Chemours

The Chemours Company NYSE: CC is a global chemistry company headquartered in Wilmington, Delaware. Formed in 2015 through a spin-off from DuPont, Chemours develops and manufactures chemical products used in industries including transportation, electronics, energy, construction, and consumer goods.

The company operates through businesses focused on thermal and specialized solutions, titanium technologies, and advanced performance materials. Its products include refrigerants and heat-transfer fluids, titanium dioxide pigments used to provide whiteness and opacity in coatings, plastics, and paper, as well as fluoropolymers, specialty fluids, and other performance materials used in demanding industrial applications.

Chemours serves customers in North America, Latin America, Europe, the Asia-Pacific region, and other international markets through manufacturing facilities, research and development operations, and commercial activities around the world.

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