Amalgamated Bank Sells 4,231 Shares of The Chemours Company (NYSE:CC)

Amalgamated Bank lowered its stake in shares of The Chemours Company (NYSE:CCGet Rating) by 3.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 115,248 shares of the specialty chemicals company’s stock after selling 4,231 shares during the quarter. Amalgamated Bank’s holdings in Chemours were worth $3,628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. boosted its holdings in Chemours by 11.5% during the first quarter. J.W. Cole Advisors Inc. now owns 15,841 shares of the specialty chemicals company’s stock worth $499,000 after buying an additional 1,636 shares during the last quarter. Bank of America Corp DE raised its position in Chemours by 75.8% in the 1st quarter. Bank of America Corp DE now owns 1,083,843 shares of the specialty chemicals company’s stock valued at $34,119,000 after buying an additional 467,394 shares during the last quarter. Point72 Hong Kong Ltd raised its position in Chemours by 5,293.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 14,723 shares of the specialty chemicals company’s stock valued at $463,000 after buying an additional 14,450 shares during the last quarter. Quantbot Technologies LP raised its position in Chemours by 302.9% in the 1st quarter. Quantbot Technologies LP now owns 32,358 shares of the specialty chemicals company’s stock valued at $1,018,000 after buying an additional 24,327 shares during the last quarter. Finally, Sprott Inc. raised its position in Chemours by 4.9% in the 1st quarter. Sprott Inc. now owns 17,368 shares of the specialty chemicals company’s stock valued at $547,000 after buying an additional 813 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CC shares. Citigroup lifted their target price on Chemours to $36.00 in a research report on Tuesday, August 9th. StockNews.com lowered Chemours from a “strong-buy” rating to a “buy” rating in a research report on Friday. Bank of America lowered their price target on Chemours from $44.00 to $36.00 in a research report on Thursday. UBS Group lifted their target price on Chemours from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Finally, Royal Bank of Canada reduced their target price on Chemours from $48.00 to $35.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.67.

Chemours Stock Performance

CC opened at $26.65 on Friday. The business has a fifty day simple moving average of $34.36 and a 200 day simple moving average of $34.56. The company has a market capitalization of $4.13 billion, a PE ratio of 4.97, a price-to-earnings-growth ratio of 0.38 and a beta of 1.80. The Chemours Company has a 1 year low of $22.56 and a 1 year high of $44.95. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.91 and a quick ratio of 1.27.

Chemours (NYSE:CCGet Rating) last released its quarterly earnings results on Thursday, July 28th. The specialty chemicals company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.47. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. Chemours had a return on equity of 79.77% and a net margin of 12.72%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. Research analysts expect that The Chemours Company will post 5.6 EPS for the current year.

Chemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.75%. Chemours’s payout ratio is 18.66%.

Chemours Profile

(Get Rating)

The Chemours Company provides performance chemicals in North America, the 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 provides TiO2 pigment under the Ti-Pure and BaiMax brands for delivering whiteness, brightness, opacity, 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.

Further Reading

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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