Luminus Management LLC Has $10.17 Million Holdings in The Chemours Company (NYSE:CC)

Luminus Management LLC reduced its stake in The Chemours Company (NYSE:CC) by 62.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 601,541 shares of the specialty chemicals company’s stock after selling 1,014,661 shares during the quarter. Chemours accounts for approximately 11.7% of Luminus Management LLC’s investment portfolio, making the stock its 4th largest holding. Luminus Management LLC’s holdings in Chemours were worth $10,166,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 765 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Chemours by 100.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 1,119 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Chemours during the fourth quarter worth $48,000. Itau Unibanco Holding S.A. lifted its stake in Chemours by 39.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 1,003 shares during the last quarter. Finally, KBC Group NV lifted its stake in Chemours by 38.2% during the fourth quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock worth $104,000 after purchasing an additional 1,708 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CC. StockNews.com cut Chemours from a “hold” rating to a “sell” rating in a research note on Thursday. Royal Bank of Canada lowered their price target on shares of Chemours from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday. Barclays lowered their price target on shares of Chemours from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Mizuho set a $15.00 price target on shares of Chemours in a report on Tuesday, April 15th. Finally, Truist Financial lowered their price target on shares of Chemours from $27.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.11.

Chemours Stock Performance

NYSE CC opened at $11.12 on Monday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.51 and a beta of 1.76. The Chemours Company has a twelve month low of $9.33 and a twelve month high of $29.21. The stock has a fifty day simple moving average of $12.55 and a 200 day simple moving average of $16.51. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. Sell-side analysts expect that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.99%. Chemours’s payout ratio is 500.00%.

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.