Pictet Asset Management SA Cuts Stock Holdings in The Chemours Company (NYSE:CC)

Pictet Asset Management SA lowered its stake in shares of The Chemours Company (NYSE:CCGet Rating) by 6.4% during the second quarter, Holdings Channel reports. The fund owned 10,947 shares of the specialty chemicals company’s stock after selling 753 shares during the period. Pictet Asset Management SA’s holdings in Chemours were worth $351,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Hancock Whitney Corp increased its position in shares of Chemours by 1.5% during the first quarter. Hancock Whitney Corp now owns 18,442 shares of the specialty chemicals company’s stock worth $581,000 after acquiring an additional 265 shares during the period. Baird Financial Group Inc. increased its holdings in Chemours by 4.3% in the first quarter. Baird Financial Group Inc. now owns 10,390 shares of the specialty chemicals company’s stock valued at $327,000 after buying an additional 426 shares during the last quarter. National Bank of Canada FI increased its holdings in Chemours by 0.5% in the second quarter. National Bank of Canada FI now owns 100,194 shares of the specialty chemicals company’s stock valued at $3,213,000 after buying an additional 475 shares during the last quarter. CWM LLC increased its holdings in Chemours by 23.4% in the second quarter. CWM LLC now owns 3,023 shares of the specialty chemicals company’s stock valued at $97,000 after buying an additional 574 shares during the last quarter. Finally, Eaton Vance Management increased its holdings in Chemours by 3.1% in the first quarter. Eaton Vance Management now owns 20,997 shares of the specialty chemicals company’s stock valued at $662,000 after buying an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CC. The Goldman Sachs Group began coverage on Chemours in a report on Thursday, October 13th. They issued a “neutral” rating and a $30.00 target price on the stock. Barclays increased their target price on Chemours from $30.00 to $34.00 in a report on Tuesday, November 1st. Credit Suisse Group started coverage on shares of Chemours in a research note on Tuesday, November 1st. They issued an “underperform” rating and a $24.00 price objective for the company. UBS Group upped their price objective on shares of Chemours from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Finally, Citigroup upped their price objective on shares of Chemours to $30.00 in a research note on Thursday, October 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Chemours currently has an average rating of “Hold” and a consensus target price of $33.00.

Chemours Price Performance

Shares of CC opened at $32.84 on Thursday. The Chemours Company has a fifty-two week low of $22.56 and a fifty-two week high of $44.95. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 0.54 and a beta of 1.86. The firm has a 50-day simple moving average of $29.00 and a 200-day simple moving average of $33.53. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.14 and a current ratio of 1.82.

Chemours (NYSE:CCGet Rating) last announced its earnings results on Tuesday, October 25th. The specialty chemicals company reported $1.24 earnings per share for the quarter, topping 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 business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that The Chemours Company will post 4.93 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.05%. Chemours’s dividend payout ratio (DPR) is 17.83%.

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.

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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