Private Management Group Inc. Sells 89,070 Shares of The Chemours Company (NYSE:CC)

Private Management Group Inc. lessened its position in shares of The Chemours Company (NYSE:CC - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 269,570 shares of the specialty chemicals company's stock after selling 89,070 shares during the quarter. Private Management Group Inc. owned 0.18% of Chemours worth $8,502,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fruth Investment Management raised its position in Chemours by 3.8% during the fourth quarter. Fruth Investment Management now owns 13,518 shares of the specialty chemicals company's stock valued at $426,000 after purchasing an additional 500 shares during the period. Mariner LLC boosted its position in Chemours by 1.8% during the 3rd quarter. Mariner LLC now owns 28,104 shares of the specialty chemicals company's stock valued at $788,000 after acquiring an additional 503 shares in the last quarter. Brown Advisory Inc. boosted its position in Chemours by 3.4% during the 3rd quarter. Brown Advisory Inc. now owns 15,801 shares of the specialty chemicals company's stock valued at $443,000 after acquiring an additional 514 shares in the last quarter. Amalgamated Bank boosted its position in shares of Chemours by 0.5% in the 3rd quarter. Amalgamated Bank now owns 97,665 shares of the specialty chemicals company's stock worth $2,740,000 after purchasing an additional 526 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Chemours by 39.0% in the 3rd quarter. IFP Advisors Inc now owns 2,232 shares of the specialty chemicals company's stock worth $63,000 after purchasing an additional 626 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group lifted their price target on Chemours from $21.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 2nd. BMO Capital Markets upgraded Chemours from an "underperform" rating to an "outperform" rating and boosted their target price for the stock from $19.00 to $34.00 in a report on Tuesday, April 9th. Finally, Barclays lowered their target price on Chemours from $32.00 to $30.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $30.89.

Chemours Stock Up 1.3 %

Shares of NYSE:CC traded up $0.35 during midday trading on Wednesday, reaching $27.08. The company had a trading volume of 1,039,663 shares, compared to its average volume of 1,862,708. The company has a debt-to-equity ratio of 5.40, a current ratio of 1.54 and a quick ratio of 1.00. The stock's fifty day moving average price is $26.72 and its 200-day moving average price is $27.80. The stock has a market capitalization of $4.03 billion, a P/E ratio of -17.47 and a beta of 2.00. The Chemours Company has a one year low of $15.10 and a one year high of $39.05.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.02. Chemours had a negative net margin of 3.80% and a positive return on equity of 51.73%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Equities research analysts expect that The Chemours Company will post 2.23 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.25 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 3.69%. Chemours's dividend payout ratio is currently -64.52%.

Chemours Company 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.