Mutual of America Capital Management LLC Has $1.64 Million Holdings in The Chemours Company (NYSE:CC)

Mutual of America Capital Management LLC trimmed its holdings in The Chemours Company (NYSE:CC) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,674 shares of the specialty chemicals company’s stock after selling 4,577 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Chemours worth $1,639,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Marshall Wace LLP raised its holdings in Chemours by 23.8% in the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after acquiring an additional 1,347,710 shares during the period. Khrom Capital Management LLC increased its stake in shares of Chemours by 54.6% during the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after purchasing an additional 1,220,967 shares during the period. Forest Avenue Capital Management LP increased 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 worth $19,088,000 after purchasing an additional 594,660 shares during the period. American Century Companies Inc. boosted its stake in Chemours by 26.7% in the 2nd quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock valued at $40,896,000 after purchasing an additional 382,100 shares during the period. Finally, Private Management Group Inc. grew its holdings in 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 buying an additional 329,037 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Alvenia Scarborough sold 7,500 shares of Chemours stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Chemours Trading Up 1.9 %

Shares of CC opened at $21.94 on Tuesday. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $32.70. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 43.88 and a beta of 1.75. The business’s fifty day moving average is $19.47 and its 200-day moving average is $21.44.

Chemours (NYSE:CC) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities analysts anticipate that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 4.56%. Chemours’s dividend payout ratio is currently 200.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their target price on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada cut their price objective on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Barclays raised their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. The Goldman Sachs Group cut their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, September 3rd. Finally, Morgan Stanley lowered their price objective on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.88.

About Chemours

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.