Truist Financial Corp reduced its holdings of shares in The Chemours Company (NYSE: CC – Get a rating) by 64.0% in the first quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission (SEC). The institutional investor owned 26,430 shares of the specialty chemicals company after selling 47,080 shares during the period. Truist Financial Corp’s holdings in Chemours were worth $832,000 when it last filed with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC increased its stake in Chemours shares by 315.7% in the 4th quarter. Millennium Management LLC now owns 2,287,108 shares of the specialty chemicals company valued at $76,755,000 after purchasing an additional 1,736,888 shares last quarter. Geode Capital Management LLC increased its stake in Chemours by 26.8% in the 4th quarter. Geode Capital Management LLC now owns 2,781,603 shares of the specialty chemicals company valued at $93,350,000 after purchasing an additional 588,765 shares last quarter. Los Angeles Capital Management LLC increased its stake in Chemours shares by 218.6% in Q4. Los Angeles Capital Management LLC now owns 788,905 shares of the specialty chemicals company valued at $26,476,000 after buying an additional 541,327 shares last quarter. Goldman Sachs Group Inc. increased its stake in Chemours by 44.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,331,652 shares of the specialty chemicals company valued at $44,690,000 after buying an additional 408,007 shares last quarter. Finally, DE Shaw & Co. Inc. increased its stake in Chemours shares by 2,195.9% in the 4th quarter. DE Shaw & Co. Inc. now owns 354,328 shares of the specialty chemicals company valued at $11,891,000 after purchasing an additional 338,895 shares last quarter. Institutional investors and hedge funds hold 76.38% of the company’s shares.
In related news, CEO Mark Newman sold 197,161 shares in a trade on Thursday, May 5. The stock was sold at an average price of $40.22, for a total value of $7,929,815.42. Following the sale, the CEO now owns 176,347 shares of the company, valued at approximately $7,092,676.34. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. In other Chemours, CEO news Mark Newman sold 197,161 shares in a trade on Thursday, May 5. The stock was sold at an average price of $40.22, for a total transaction of $7,929,815.42. As a result of the transaction, the CEO now owns 176,347 shares of the company, valued at approximately $7,092,676.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Also, please Alvenia Scarborough sold 7,249 shares in a trade on Thursday, May 5. The stock was sold at an average price of $40.42, for a total value of $293,004.58. Following the sale, the senior vice president now directly owns 12,322 shares of the company, valued at $498,055.24. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 296,280 shares of the company valued at $11,989,133. 3.04% of the shares are held by insiders.
Analysts set new price targets
CC has been the subject of a number of research analyst reports. StockNews.com upgraded Chemours from a “strong buy” rating to a “buy” rating in a Tuesday, June 21 report. Bank of America downgraded Chemours from a “buy” rating to a “neutral” rating and cut its price target for the company from $48.00 to $44.00 in a Tuesday, June 14 report. Barclays raised its price target on Chemours from $37.00 to $46.00 in a Monday May 9 report. Finally, UBS Group reduced its price target on Chemours to $105.00 in a Wednesday, July 13 report. Three investment analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $53.20.
Chemours stock performance
Shares of NYSE: CC opened at $33.56 on Friday. The stock has a market capitalization of $5.22 billion, a P/E ratio of 7.47, a P/E/G ratio of 0.48 and a beta of 1.86. The Chemours Company has a 1-year low of $22.56 and a 1-year high of $44.95. The company has a current ratio of 1.91, a quick ratio of 1.25 and a debt ratio of 3.16. The company has a 50-day moving average price of $36.34 and a two-hundred-day moving average price of $33.77.
Chemours (NYSE: CC – Get a rating) last announced its quarterly results on Monday, May 2. The specialty chemicals company reported EPS of $1.46 for the quarter, beating consensus analyst estimates of $0.92 from $0.54. The company posted revenue of $1.76 billion in the quarter, compared to $1.54 billion expected by analysts. Chemours had a return on equity of 76.47% and a net margin of 11.19%. During the same period a year earlier, the company posted EPS of $0.71. Stock analysts predict The Chemours Company will post earnings per share of 5.24 for the current year.
Chemours Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Monday, May 16 received a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a yield of 2.98%. The ex-dividend date was Friday, May 13. Chemours’ dividend payout ratio (DPR) is currently 22.27%.
The Chemours Company provides performance chemicals in North America, Asia-Pacific, Europe, the Middle East, Africa and Latin America. It operates through four segments: Titanium Technologies, Thermal and Specialty Solutions, Advanced Performance Materials and Chemical Solutions. The Titanium Technologies segment provides TiO2 pigments under the Ti-Pure and BaiMax brands to provide whiteness, luminosity, opacity and protection in various applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinyl chloride, laminated papers used for furniture. and building materials, coated paper and coated paperboard used for packaging.
Get news and reviews for Chemours Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Chemours and related companies with MarketBeat.com’s FREE daily newsletter.