The Chemours Company (NYSE:CC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its position in The Chemours Company (NYSE:CC) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,605 shares of the specialty chemicals company’s stock after selling 7,833 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Chemours worth $2,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in Chemours during the third quarter worth about $35,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Chemours by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the specialty chemicals company’s stock valued at $24,974,000 after buying an additional 32,590 shares during the period. Landscape Capital Management L.L.C. acquired a new position in Chemours during the 3rd quarter worth about $207,000. Advisors Asset Management Inc. purchased a new position in Chemours during the 3rd quarter valued at about $1,939,000. Finally, Prospera Private Wealth LLC acquired a new position in Chemours in the 3rd quarter valued at about $75,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Price Performance

Shares of NYSE CC opened at $21.00 on Monday. The stock’s 50-day simple moving average is $19.88 and its 200-day simple moving average is $20.99. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The firm has a market capitalization of $3.14 billion, a PE ratio of 42.00 and a beta of 1.80. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $32.70.

Chemours (NYSE:CC) last issued its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts forecast that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s dividend payout ratio is currently 200.00%.

Insider Activity

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the completion of the sale, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays raised their price objective on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada decreased their price target on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley cut their price objective on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. BMO Capital Markets lifted their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, The Goldman Sachs Group cut their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Chemours has an average rating of “Hold” and a consensus target price of $24.88.

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.