The Chemours Company (NYSE:CC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in The Chemours Company (NYSE:CC) by 30.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 345,916 shares of the specialty chemicals company’s stock after selling 150,157 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Chemours worth $7,029,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Khrom Capital Management LLC increased its stake in shares of Chemours by 156.7% in the first quarter. Khrom Capital Management LLC now owns 2,235,659 shares of the specialty chemicals company’s stock worth $58,708,000 after acquiring an additional 1,364,634 shares during the last quarter. Marshall Wace LLP boosted its holdings in Chemours by 23.8% during the second quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after purchasing an additional 1,347,710 shares in the last quarter. Forest Avenue Capital Management LP grew its stake in shares of Chemours by 236.9% during the second quarter. Forest Avenue Capital Management LP now owns 845,728 shares of the specialty chemicals company’s stock valued at $19,088,000 after purchasing an additional 594,660 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Chemours by 26.7% during the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock worth $40,896,000 after buying an additional 382,100 shares during the last quarter. Finally, Private Management Group Inc. raised its position in shares of Chemours by 72.0% in the 3rd quarter. Private Management Group Inc. now owns 785,809 shares of the specialty chemicals company’s stock valued at $15,968,000 after acquiring an additional 329,037 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analysts Set New Price Targets

CC has been the subject of several recent research reports. Morgan Stanley reduced their price objective on Chemours from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group decreased their target price on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. BMO Capital Markets lifted their price target on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. reduced their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, UBS Group cut their target price on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.88.

Chemours Stock Down 1.1 %

Shares of NYSE CC opened at $18.84 on Wednesday. The stock has a 50-day moving average price of $19.20 and a two-hundred day moving average price of $21.63. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $32.70. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 37.68 and a beta of 1.75.

Chemours (NYSE:CC) last announced its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the company earned $0.64 EPS. Chemours’s revenue was up .9% compared to the same quarter last year. As a group, analysts forecast that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.31%. Chemours’s dividend payout ratio (DPR) is currently 200.00%.

Insider Buying and Selling at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the company’s 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 transaction, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This represents a 31.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Chemours Company 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.