Commonwealth Equity Services LLC Raises Stock Holdings in The Chemours Company (NYSE:CC)

Commonwealth Equity Services LLC grew its stake in The Chemours Company (NYSE:CC) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,620 shares of the specialty chemicals company’s stock after buying an additional 2,010 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Chemours were worth $1,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its position in Chemours by 50.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,763,368 shares of the specialty chemicals company’s stock worth $150,237,000 after buying an additional 1,602,628 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Chemours by 91.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,676 shares of the specialty chemicals company’s stock worth $69,476,000 after acquiring an additional 1,263,875 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Chemours by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,547,094 shares of the specialty chemicals company’s stock worth $80,342,000 after acquiring an additional 53,254 shares during the period. Deutsche Bank AG boosted its stake in shares of Chemours by 4,407.9% in the third quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock worth $49,352,000 after acquiring an additional 1,720,389 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Chemours by 0.7% in the third quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock worth $40,938,000 after acquiring an additional 10,075 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Trading Down 2.6 %

CC stock traded down $0.58 during midday trading on Friday, reaching $22.11. 273,202 shares of the company traded hands, compared to its average volume of 1,642,406. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $39.05. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 5.26. The business has a 50 day moving average of $25.53 and a 200-day moving average of $27.50.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. On average, sell-side analysts forecast that The Chemours Company will post 1.88 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.00 annualized dividend and a dividend yield of 4.52%. Chemours’s payout ratio is -46.08%.

Analyst Ratings Changes

CC has been the subject of a number of recent analyst reports. UBS Group upped their price objective on Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Mizuho initiated coverage on Chemours in a research note on Friday, June 7th. They set a “neutral” rating and a $25.00 price target for the company. BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and increased their price target for the company from $19.00 to $34.00 in a research note on Tuesday, April 9th. Finally, Barclays dropped their price target on Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Chemours has an average rating of “Hold” and a consensus target price of $30.13.

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.