LPL Financial LLC Lowers Stock Position in The Chemours Company (NYSE:CC)

LPL Financial LLC cut its holdings in shares of The Chemours Company (NYSE:CC – Get Rating) by 13.5% during the 4th quarter, HoldingsChannel reports. The fund owned 57,395 shares of the specialty chemicals company’s stock after selling 8,992 shares during the quarter. LPL Financial LLC’s holdings in Chemours were worth $1,757,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CC. Lindbrook Capital LLC raised its stake in shares of Chemours by 117.3% during the fourth quarter. Lindbrook Capital LLC now owns 969 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 523 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake 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 worth $54,000 after acquiring an additional 358 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Chemours by 9.0% during the third quarter. IFP Advisors Inc now owns 4,610 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 382 shares in the last quarter. Old North State Trust LLC purchased a new position in shares of Chemours during the third quarter worth approximately $94,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of Chemours by 20.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 3,299 shares of the specialty chemicals company’s stock worth $101,000 after acquiring an additional 551 shares in the last quarter. 71.89% of the stock is owned by hedge funds and other institutional investors.

Chemours Stock Performance

NYSE:CC opened at $29.00 on Wednesday. The Chemours Company has a twelve month low of $23.58 and a twelve month high of $44.95. The stock has a market cap of $4.33 billion, a P/E ratio of 9.35, a price-to-earnings-growth ratio of 0.94 and a beta of 1.87. The company has a quick ratio of 0.98, a current ratio of 1.84 and a debt-to-equity ratio of 2.93. The firm’s fifty day simple moving average is $29.11 and its 200 day simple moving average is $31.48.

Chemours (NYSE:CC – Get Rating) last announced its earnings results on Friday, April 28th. The specialty chemicals company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.36. Chemours had a net margin of 7.45% and a return on equity of 53.44%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The company’s quarterly revenue was down 12.9% on a year-over-year basis. As a group, research analysts predict that The Chemours Company will post 3.97 EPS for the current year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, May 12th. Chemours’s dividend payout ratio (DPR) is presently 32.26%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CC shares. StockNews.com cut shares of Chemours from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup raised their target price on shares of Chemours from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, February 13th. The Goldman Sachs Group raised their target price on shares of Chemours from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, February 14th. UBS Group upgraded shares of Chemours from a “neutral” rating to a “buy” rating and raised their target price for the stock from $31.00 to $43.00 in a report on Tuesday, January 24th. Finally, Royal Bank of Canada raised their target price on shares of Chemours from $35.00 to $36.00 in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.11.

Insider Activity

In other news, insider Alisha Bellezza sold 27,716 shares of the business’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 sale, the insider now owns 43,931 shares in the company, valued at approximately $1,558,232.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.63% of the company’s stock.

Chemours Company Profile

(Get Rating)

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.