HighTower Advisors LLC Trims Stake in The Chemours Company (NYSE:CC)

HighTower Advisors LLC lowered its stake in The Chemours Company (NYSE:CC – Get Rating) by 10.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 48,558 shares of the specialty chemicals company’s stock after selling 5,685 shares during the quarter. HighTower Advisors LLC’s holdings in Chemours were worth $1,486,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lindbrook Capital LLC lifted its position in Chemours by 117.3% in the 4th quarter. Lindbrook Capital LLC now owns 969 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 523 shares in the last quarter. TCI Wealth Advisors Inc. lifted its position in Chemours by 19.7% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,179 shares of the specialty chemicals company’s stock valued at $54,000 after acquiring an additional 358 shares in the last quarter. IFP Advisors Inc lifted its position in Chemours by 9.0% in the 3rd quarter. IFP Advisors Inc now owns 4,610 shares of the specialty chemicals company’s stock valued at $60,000 after acquiring an additional 382 shares in the last quarter. Old North State Trust LLC bought a new position in Chemours in the 3rd quarter valued at approximately $94,000. Finally, Harbor Investment Advisory LLC lifted its holdings in shares of Chemours by 20.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 3,299 shares of the specialty chemicals company’s stock valued at $101,000 after buying an additional 551 shares during the period. Hedge funds and other institutional investors own 71.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CC shares. Citigroup increased their price target on Chemours from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, February 13th. StockNews.com cut Chemours from a “buy” rating to a “hold” rating in a report on Saturday, May 20th. Royal Bank of Canada increased their price target on Chemours from $35.00 to $36.00 in a report on Monday, May 1st. Credit Suisse Group lowered their price target on Chemours from $27.00 to $25.00 in a report on Friday, April 28th. Finally, The Goldman Sachs Group raised their target price on Chemours from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.11.

Insider Activity

In other news, insider Alisha Bellezza sold 27,716 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was 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 at the SEC website. Company insiders own 1.63% of the company’s stock.

Chemours Trading Down 1.4 %

Shares of CC stock opened at $28.01 on Friday. The Chemours Company has a 52-week low of $23.58 and a 52-week high of $44.95. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.98 and a current ratio of 1.84. The firm has a market capitalization of $4.18 billion, a PE ratio of 9.04, a PEG ratio of 0.92 and a beta of 1.87. The stock has a fifty day simple moving average of $29.08 and a two-hundred day simple moving average of $31.44.

Chemours (NYSE:CC – Get Rating) last issued its quarterly earnings results on Friday, April 28th. The specialty chemicals company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.36. Chemours had a return on equity of 53.44% and a net margin of 7.45%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business posted $1.46 EPS. Chemours’s revenue for the quarter was down 12.9% compared to the same quarter last year. On average, analysts predict that The Chemours Company will post 3.97 EPS for the current fiscal year.

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.57%. Chemours’s payout ratio is 32.26%.

About Chemours

(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.