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

The Manufacturers Life Insurance Company lowered its stake in The Chemours Company (NYSE:CC) by 1.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 125,438 shares of the specialty chemicals company’s stock after selling 2,219 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Chemours worth $2,831,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Quarry LP lifted its holdings in shares of Chemours by 106.8% during the 4th quarter. Quarry LP now owns 1,700 shares of the specialty chemicals company’s stock worth $54,000 after acquiring an additional 26,700 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Chemours during the 4th quarter valued at $40,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Chemours during the 4th quarter worth $99,000. Quadrature Capital Ltd purchased a new stake in Chemours during the fourth quarter valued at about $255,000. Finally, Alaska Permanent Fund Corp raised its holdings in shares of Chemours by 14.0% in the 1st quarter. Alaska Permanent Fund Corp now owns 84,918 shares of the specialty chemicals company’s stock worth $2,230,000 after purchasing an additional 10,420 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price target on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. BMO Capital Markets raised their target price on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group reduced their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Finally, UBS Group dropped their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chemours has an average rating of “Hold” and an average price target of $26.88.

Chemours Stock Performance

Shares of CC stock opened at $19.55 on Wednesday. The company has a market cap of $2.91 billion, a P/E ratio of -9.01 and a beta of 1.74. The business has a 50 day moving average of $18.99 and a two-hundred day moving average of $23.28. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $32.70. The company has a quick ratio of 1.01, a current ratio of 1.89 and a debt-to-equity ratio of 5.45.

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

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Thursday, August 15th. Chemours’s dividend payout ratio (DPR) is -46.08%.

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.