Royal Bank of Canada lessened its stake in The Chemours Company (NYSE:CC – Free Report) by 12.4% in the 1st quarter, HoldingsChannel reports. The fund owned 336,365 shares of the specialty chemicals company’s stock after selling 47,808 shares during the quarter. Royal Bank of Canada’s holdings in Chemours were worth $7,410,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Chemours by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock worth $211,287,000 after purchasing an additional 490,778 shares in the last quarter. State Street Corp increased its holdings in shares of Chemours by 22.7% in the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after purchasing an additional 1,131,682 shares in the last quarter. Ameriprise Financial Inc. raised its position in Chemours by 13.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock worth $75,971,000 after purchasing an additional 580,089 shares during the last quarter. UBS Group AG raised its position in Chemours by 0.3% in the 3rd quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock worth $75,311,000 after purchasing an additional 14,865 shares during the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new position in Chemours during the 3rd quarter worth $63,103,000. 76.26% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have commented on CC shares. JPMorgan Chase & Co. increased their price objective on Chemours from $17.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Truist Financial cut their price target on Chemours from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Alembic Global Advisors reiterated an “overweight” rating and issued a $30.00 price target on shares of Chemours in a report on Wednesday, May 13th. Royal Bank Of Canada decreased their price target on Chemours from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Morgan Stanley set a $18.00 price objective on Chemours in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.
Chemours Stock Performance
CC stock opened at $14.52 on Tuesday. The business’s fifty day moving average is $19.08 and its 200-day moving average is $20.05. The company has a quick ratio of 0.88, a current ratio of 1.66 and a debt-to-equity ratio of 18.98. The company has a market cap of $2.19 billion, a P/E ratio of -7.60 and a beta of 1.43. The Chemours Company has a twelve month low of $10.44 and a twelve month high of $28.67.
Chemours (NYSE:CC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. Chemours had a positive return on equity of 60.64% and a negative net margin of 5.00%.The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm earned ($2.54) earnings per share. Equities research analysts forecast that The Chemours Company will post 0.91 EPS for the current year.
Chemours Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.0875 per share. The ex-dividend date is Friday, August 14th. This represents a $0.35 dividend on an annualized basis and a yield of 2.4%. Chemours’s dividend payout ratio (DPR) is -18.32%.
Insider Activity
In related news, CFO Shane Hostetter bought 3,350 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $14.94 per share, for a total transaction of $50,049.00. Following the transaction, the chief financial officer owned 102,698 shares of the company’s stock, valued at $1,534,308.12. This represents a 3.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.85% of the company’s stock.
About Chemours
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.
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