Lavaca Capital LLC Has $220,000 Stock Holdings in The Chemours Company (NYSE:CC)

Lavaca Capital LLC decreased its holdings in The Chemours Company (NYSE:CC) by 60.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,742 shares of the specialty chemicals company’s stock after selling 14,916 shares during the period. Lavaca Capital LLC’s holdings in Chemours were worth $220,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Burney Co. lifted its stake in Chemours by 0.3% in the 1st quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock valued at $5,174,000 after purchasing an additional 601 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Chemours by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 65,924 shares of the specialty chemicals company’s stock valued at $2,079,000 after acquiring an additional 640 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Chemours by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock valued at $940,000 after acquiring an additional 863 shares in the last quarter. State of Michigan Retirement System grew its position in Chemours by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 36,479 shares of the specialty chemicals company’s stock worth $958,000 after acquiring an additional 900 shares during the last quarter. Finally, New Covenant Trust Company N.A. acquired a new position in Chemours in the 1st quarter worth about $29,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

CC has been the topic of a number of recent research reports. Barclays cut their price target on Chemours from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Mizuho began coverage on shares of Chemours in a report on Friday, June 7th. They set a “neutral” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group cut their price target on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Finally, UBS Group decreased their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.75.

Chemours Stock Performance

Shares of CC opened at $18.70 on Friday. The firm’s fifty day simple moving average is $20.05 and its two-hundred day simple moving average is $23.87. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $32.70. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45. The stock has a market capitalization of $2.78 billion, a P/E ratio of -8.62 and a beta of 1.74.

Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.19). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 33.21%. Chemours’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. As a group, analysts predict that The Chemours Company will post 1.33 EPS for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.35%. The ex-dividend date was Thursday, August 15th. Chemours’s dividend payout ratio (DPR) is currently -46.08%.

About Chemours

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.