Mutual of America Capital Management LLC Sells 1,749 Shares of The Chemours Company (NYSE:CC)

Mutual of America Capital Management LLC trimmed its stake in The Chemours Company (NYSE:CC) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,925 shares of the specialty chemicals company’s stock after selling 1,749 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Chemours worth $1,334,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in shares of Chemours in the fourth quarter worth approximately $334,000. Heritage Investors Management Corp increased its holdings in shares of Chemours by 1.1% in the 4th quarter. Heritage Investors Management Corp now owns 105,322 shares of the specialty chemicals company’s stock valued at $1,780,000 after acquiring an additional 1,174 shares during the period. Amalgamated Bank boosted its position in shares of Chemours by 4.6% in the 4th quarter. Amalgamated Bank now owns 72,714 shares of the specialty chemicals company’s stock worth $1,229,000 after purchasing an additional 3,188 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Chemours in the 4th quarter worth $996,000. Finally, Peregrine Capital Management LLC acquired a new stake in Chemours during the 4th quarter worth about $5,731,000. 76.26% of the stock is owned by institutional investors.

Chemours Stock Up 0.8 %

Shares of NYSE CC opened at $14.11 on Friday. The stock has a market cap of $2.11 billion, a P/E ratio of 24.75 and a beta of 1.81. The company has a current ratio of 1.68, a quick ratio of 0.92 and a debt-to-equity ratio of 6.70. The Chemours Company has a 12-month low of $13.31 and a 12-month high of $29.21. The business’s fifty day simple moving average is $17.51 and its 200-day simple moving average is $18.67.

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

Chemours Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s dividend payout ratio (DPR) is currently 175.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley reduced their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Mizuho reduced their target price on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Truist Financial began coverage on Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target for the company. BMO Capital Markets cut their price target on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Barclays lowered their price objective on Chemours from $23.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.11.

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.