The Chemours Company (NYSE:CC) Shares Sold by LSV Asset Management

LSV Asset Management lowered its position in The Chemours Company (NYSE:CC) by 11.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,090,300 shares of the specialty chemicals company’s stock after selling 275,100 shares during the quarter. LSV Asset Management owned 1.40% of Chemours worth $54,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC acquired a new position in Chemours in the fourth quarter valued at $25,000. North Star Investment Management Corp. raised its position in Chemours by 1,510.0% in the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,208 shares during the period. Morton Brown Family Wealth LLC purchased a new position in Chemours in the fourth quarter valued at about $35,000. Sunbelt Securities Inc. raised its position in Chemours by 1,969.7% in the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 1,300 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in Chemours in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Up 1.0 %

Chemours stock traded up $0.24 during midday trading on Friday, hitting $24.50. The stock had a trading volume of 1,063,586 shares, compared to its average volume of 1,633,749. 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 stock has a market cap of $3.65 billion, a P/E ratio of -11.18 and a beta of 1.80. The Chemours Company has a 12 month low of $15.10 and a 12 month high of $39.05. The business has a fifty day moving average price of $25.13 and a 200 day moving average price of $27.22.

Chemours (NYSE:CC) last announced its quarterly earnings data on Tuesday, April 30th. The specialty chemicals company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.07. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.35 billion. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. Chemours’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 earnings per share. Research analysts predict that The Chemours Company will post 1.88 EPS for the current year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were paid a $0.25 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.00 dividend on an annualized basis and a yield of 4.08%. Chemours’s payout ratio is currently -46.08%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Mizuho assumed coverage on Chemours in a research report on Friday, June 7th. They issued a “neutral” rating and a $25.00 price objective on the stock. BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $19.00 to $34.00 in a research report on Tuesday, April 9th. UBS Group raised Chemours from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $28.00 to $30.00 in a research report on Tuesday. Finally, Barclays dropped their target price on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.38.

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.