PNC Financial Services Group Inc. Sells 6,299 Shares of The Chemours Company (NYSE:CC)

PNC Financial Services Group Inc. lessened its stake in The Chemours Company (NYSE:CC) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,175 shares of the specialty chemicals company’s stock after selling 6,299 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of Chemours worth $2,939,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Deutsche Bank AG raised its position in Chemours by 4,407.9% in the third quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock worth $49,352,000 after purchasing an additional 1,720,389 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Chemours by 50.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,763,368 shares of the specialty chemicals company’s stock valued at $150,237,000 after acquiring an additional 1,602,628 shares during the last quarter. Norges Bank bought a new position in shares of Chemours in the fourth quarter valued at approximately $39,171,000. Tudor Investment Corp Et Al raised its stake in shares of Chemours by 10,530.9% in the third quarter. Tudor Investment Corp Et Al now owns 219,049 shares of the specialty chemicals company’s stock valued at $6,144,000 after acquiring an additional 221,149 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Chemours in the fourth quarter valued at approximately $4,711,000. Institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Mizuho started coverage on shares of Chemours in a research note on Friday, June 7th. They issued a “neutral” rating and a $25.00 target price for the company. UBS Group boosted their price objective on shares of 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 shares of Chemours from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $19.00 to $34.00 in a research report on Tuesday, April 9th. Finally, Barclays dropped their price objective on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.89.

Chemours Price Performance

CC opened at $23.85 on Thursday. The company has a fifty day moving average price of $26.35 and a two-hundred day moving average price of $27.99. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.99 and a current ratio of 1.61. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $39.05. The firm has a market capitalization of $3.55 billion, a PE ratio of -10.99 and a beta of 1.82.

Chemours (NYSE:CC) last released its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. Chemours had a negative net margin of 5.51% and a positive return on equity of 46.67%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. As a group, analysts anticipate that The Chemours Company will post 1.88 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Tuesday, May 14th. Chemours’s dividend payout ratio (DPR) is -46.08%.

Chemours 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.