M&T Bank Corp Lowers Holdings in Chemours Co (NYSE:CC)

M&T Bank Corp trimmed its position in shares of Chemours Co (NYSE:CC) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 651,566 shares of the specialty chemicals company’s stock after selling 17,893 shares during the quarter. M&T Bank Corp owned about 0.40% of Chemours worth $10,001,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its holdings in shares of Chemours by 173.6% in the 1st quarter. Meeder Asset Management Inc. now owns 3,133 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 1,988 shares in the last quarter. Pearl River Capital LLC purchased a new position in Chemours in the 1st quarter worth about $32,000. Verus Capital Partners LLC bought a new position in Chemours during the 4th quarter valued at about $34,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Chemours by 61.6% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 4,459 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Pinz Capital Management LP bought a new stake in shares of Chemours in the first quarter worth approximately $48,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Chemours from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Susquehanna Bancshares cut their price objective on Chemours from $23.00 to $17.00 in a report on Tuesday, April 14th. Zacks Investment Research raised Chemours from a “strong sell” rating to a “hold” rating and set a $17.00 target price on the stock in a report on Tuesday, July 7th. Citigroup dropped their target price on Chemours from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Finally, SunTrust Banks upped their price target on shares of Chemours from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Chemours presently has a consensus rating of “Hold” and an average target price of $14.30.

Shares of NYSE:CC opened at $18.53 on Friday. The stock has a 50 day moving average of $15.99 and a 200 day moving average of $13.88. The company has a market cap of $3.04 billion, a PE ratio of -25.74 and a beta of 2.44. Chemours Co has a 12-month low of $7.02 and a 12-month high of $20.23. The company has a current ratio of 1.93, a quick ratio of 1.10 and a debt-to-equity ratio of 6.42.

Chemours (NYSE:CC) last posted its quarterly earnings results on Thursday, July 30th. The specialty chemicals company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.09. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. Chemours had a negative net margin of 2.28% and a positive return on equity of 46.11%. Equities research analysts predict that Chemours Co will post 1.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 17th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 5.40%. Chemours’s payout ratio is presently 39.84%.

In other Chemours news, COO Mark Newman acquired 2,500 shares of the stock in a transaction dated Thursday, May 7th. The shares were acquired at an average cost of $11.62 per share, for a total transaction of $29,050.00. Following the completion of the transaction, the chief operating officer now directly owns 132,344 shares of the company’s stock, valued at $1,537,837.28. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.72% of the stock is owned by company insiders.

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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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