Macquarie Group Ltd. Decreases Position in The Chemours Company (NYSE:CC)

Macquarie Group Ltd. cut its position in The Chemours Company (NYSE:CC – Get Rating) by 3.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 52,628 shares of the specialty chemicals company’s stock after selling 1,988 shares during the period. Macquarie Group Ltd.’s holdings in Chemours were worth $1,346,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CC. CNB Bank purchased a new position in shares of Chemours during the second quarter valued at approximately $25,000. CoreCap Advisors LLC purchased a new position in shares of Chemours during the second quarter valued at approximately $64,000. TCI Wealth Advisors Inc. raised its holdings in shares of Chemours by 19.7% during the third quarter. TCI Wealth Advisors Inc. now owns 2,179 shares of the specialty chemicals company’s stock valued at $54,000 after purchasing an additional 358 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Chemours during the second quarter valued at approximately $74,000. Finally, Private Trust Co. NA purchased a new position in shares of Chemours during the second quarter valued at approximately $81,000. 71.89% of the stock is owned by hedge funds and other institutional investors.

Chemours Stock Performance

CC opened at $31.21 on Friday. The firm has a market cap of $4.63 billion, a P/E ratio of 8.74, a PEG ratio of 1.31 and a beta of 1.88. The Chemours Company has a 1-year low of $23.58 and a 1-year high of $44.95. The company has a 50 day simple moving average of $34.01 and a two-hundred day simple moving average of $31.75. The company has a debt-to-equity ratio of 3.24, a current ratio of 1.70 and a quick ratio of 0.96.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, February 24th will be given a $0.25 dividend. The ex-dividend date is Thursday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.20%. Chemours’s payout ratio is currently 28.01%.

Insiders Place Their Bets

In related news, insider Alisha Bellezza sold 27,716 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $35.47, for a total transaction of $983,086.52. Following the completion of the transaction, the insider now owns 43,931 shares in the company, valued at $1,558,232.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.04% of the company’s stock.

Wall Street Analysts Forecast Growth

CC has been the subject of several research reports. Citigroup boosted their price objective on shares of Chemours from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, February 13th. StockNews.com cut shares of Chemours from a “buy” rating to a “hold” rating in a report on Monday, February 13th. Credit Suisse Group upped their target price on shares of Chemours from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Friday, February 10th. UBS Group raised shares of Chemours from a “neutral” rating to a “buy” rating and upped their target price for the company from $31.00 to $43.00 in a report on Tuesday, January 24th. Finally, Bank of America raised shares of Chemours from a “neutral” rating to a “buy” rating and upped their target price for the company from $37.00 to $40.00 in a report on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.33.

About Chemours

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The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.