Commonwealth Equity Services LLC Trims Position in The Chemours Company (NYSE:CC)

Commonwealth Equity Services LLC trimmed its position in shares of The Chemours Company (NYSE:CC) by 13.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,951 shares of the specialty chemicals company’s stock after selling 8,352 shares during the period. Commonwealth Equity Services LLC’s holdings in Chemours were worth $878,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CC. Swiss National Bank lifted its holdings in Chemours by 1.0% in the 4th quarter. Swiss National Bank now owns 293,500 shares of the specialty chemicals company’s stock worth $4,960,000 after purchasing an additional 2,800 shares in the last quarter. Channing Capital Management LLC bought a new stake in shares of Chemours during the fourth quarter valued at approximately $4,701,000. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Chemours by 18.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 19,588 shares of the specialty chemicals company’s stock worth $331,000 after buying an additional 3,102 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of Chemours during the fourth quarter worth $205,000. Finally, Inceptionr LLC grew its stake in Chemours by 55.9% during the fourth quarter. Inceptionr LLC now owns 22,749 shares of the specialty chemicals company’s stock valued at $384,000 after acquiring an additional 8,153 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

Shares of Chemours stock opened at $12.96 on Wednesday. The stock has a 50 day moving average price of $16.15 and a 200-day moving average price of $18.15. The Chemours Company has a one year low of $12.73 and a one year high of $29.21. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 22.73 and a beta of 2.00. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68.

Chemours (NYSE:CC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Equities analysts expect that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, February 28th. This represents a $1.00 annualized dividend and a yield of 7.72%. Chemours’s payout ratio is 175.44%.

Analyst Ratings Changes

A number of analysts have issued reports on CC shares. Truist Financial began coverage on shares of Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price target on the stock. Morgan Stanley decreased their target price on Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. Barclays decreased their price objective on Chemours from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, BMO Capital Markets lowered their target price on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Chemours has an average rating of “Moderate Buy” and an average target price of $22.56.

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.