Mitsubishi UFJ Trust & Banking Corp slashed shares of The Chemours Company (NYSE: CC – GATE Rating) 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor held 19,507 shares of the specialty chemicals company’s stock after selling 6,083 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holding in Chemours was $625,000, as of the most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also changed their holdings in the company. Seacrest Wealth Management LLC acquired a new position in Kemers worth $74,000 during the second quarter. Lazard Asset Management LLC increased its position in Chemours by 326.8% during the second quarter. Lazard Asset Management LLC now owns 8,369 shares of the specialty chemicals company valued at $267,000 after buying an additional 6,408 shares during the last quarter. Baird Financial Group Inc. increased its position in Chemours shares by 13.8% in the second quarter. Baird Financial Group Inc. after buying an additional 1,438 shares during the last quarter. now owns 11,828 shares of Specialty Chemicals Company stock valued at $379,000. Y Intercept Hong Kong Limited acquired a new stake in Kemers shares in the second quarter valued at approximately $1,048,000. Finally, Hancock Whitney Corp increased shares of Chemours by 7.6% in the second quarter. Hancock Whitney Corp now owns 19,844 shares of Specialty Chemicals Co’s stock valued at $636,000 after buying an additional 1,402 shares during the last quarter. 70.86% of the stock is currently held by hedge funds and other institutional investors.
Analyst Rating Changes
Several equity research analysts have recently issued reports on CC shares. Bank of America cut their price target on Chemours from $44.00 to $36.00 in a research report on Thursday, September 22nd. Argus cut shares of Chemours from a “Buy” rating to a “Hold” rating in a research note on Wednesday, October 5. Citigroup increased its target price on shares of Chemours to $30.00 in a research note on Thursday, October 27. StockNews.com upgraded shares of Chemours from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada reduced its price objective on shares of Chemours from $48.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, September 22. One analyst has rated the stock with a Sell rating, seven have issued a Hold rating and three have issued a Buy rating on the company. Chemours currently has a consensus rating of “Hold” and an average target price of $33.00, according to Marketbeat data.
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Shares of CC stock opened at $32.17 on Tuesday. The Chemours Company 12-Month Low is $22.56 and the 12-Month High is $44.95. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 5.73, a price-to-earnings-growth ratio of 0.55, and a beta of 1.86. The company has a quick ratio of 1.14, current ratio of 1.82 and debt-to-equity ratio of 2.73. The firm’s fifty-day moving average is $29.07 and its 200-day moving average is $33.59.
Chemours (NYSE: CC – RECEIVE Rating) last announced its quarterly earnings results on Tuesday, October 25. The specialty chemicals company reported earnings per share (EPS) of $1.24 for the quarter, beating the consensus estimate of $1.16 by $0.08. Chemours had a net margin of 12.91% and a return on equity of 73.45%. The company’s revenue during the quarter was $1.80 billion, compared with analysts’ estimates of $1.67 billion. During the same quarter last year, the business earned $1.27 EPS. The firm’s revenue was up 7.1% on a year-on-year basis. On average, equity research analysts expect Chemours Company to earn 4.93 earnings per share for the current year.
Chemours Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. A $0.25 dividend will be paid to investors of record on Tuesday, November 15. The ex-dividend date is Monday, November 14. This represents a $1.00 annual dividend and a yield of 3.11%. Chemours’s dividend payout ratio currently stands at 17.83%.
The Chemours Company provides performance chemicals to North America, Asia Pacific, Europe, the Middle East, Africa and Latin America. It operates through four segments: Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials and Chemical Solutions. The Titanium Technologies segment offers TiO2 pigments under the Ti-Pure and BaiMax brands, providing whiteness, brightness, opacity and protection in a variety of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, furniture Laminate paper used. and construction materials, coated paper, and coated paperboard are used for packaging.
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