The Chemours Company (NYSE:CC) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in The Chemours Company (NYSE:CC) by 41.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,138 shares of the specialty chemicals company’s stock after selling 9,492 shares during the quarter. Truist Financial Corp’s holdings in Chemours were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CC. Appian Way Asset Management LP acquired a new stake in shares of Chemours in the 3rd quarter valued at about $34,151,000. Vision One Management Partners LP acquired a new stake in shares of Chemours in the 3rd quarter worth approximately $28,252,000. Scopia Capital Management LP acquired a new stake in shares of Chemours in the 3rd quarter worth approximately $13,623,000. FMR LLC lifted its stake in shares of Chemours by 3.5% in the 3rd quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock worth $368,650,000 after acquiring an additional 618,361 shares during the period. Finally, Cinctive Capital Management LP lifted its stake in Chemours by 577.1% during the third quarter. Cinctive Capital Management LP now owns 296,415 shares of the specialty chemicals company’s stock valued at $6,023,000 after purchasing an additional 252,640 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CC shares. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. Truist Financial began coverage on shares of Chemours in a research note on Tuesday, January 28th. They set a “buy” rating and a $27.00 price target on the stock. BMO Capital Markets dropped their price target on shares of Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group decreased their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Barclays reduced their price target on shares of Chemours from $23.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chemours presently has an average rating of “Hold” and a consensus price target of $23.11.

Chemours Price Performance

NYSE:CC opened at $14.00 on Friday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 24.56 and a beta of 1.81. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The company has a 50-day moving average of $17.63 and a 200-day moving average of $18.73. The Chemours Company has a 52 week low of $13.31 and a 52 week high of $29.21.

Chemours (NYSE:CC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. As a group, equities research analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s dividend payout ratio is 175.44%.

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.