Private Management Group Inc. Reduces Position in The Chemours Company (NYSE:CC)

Private Management Group Inc. lessened its holdings in shares of The Chemours Company (NYSE:CC) by 24.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,570 shares of the specialty chemicals company’s stock after selling 89,070 shares during the period. Private Management Group Inc. owned 0.18% of Chemours worth $8,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Chemours by 11.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,196,063 shares of the specialty chemicals company’s stock valued at $173,800,000 after purchasing an additional 612,071 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Chemours by 10.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,160,740 shares of the specialty chemicals company’s stock valued at $88,659,000 after purchasing an additional 286,076 shares during the last quarter. Deutsche Bank AG boosted its holdings in Chemours by 4,407.9% in the 3rd quarter. Deutsche Bank AG now owns 1,759,419 shares of the specialty chemicals company’s stock valued at $49,352,000 after purchasing an additional 1,720,389 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Chemours by 0.7% in the 3rd quarter. American Century Companies Inc. now owns 1,459,463 shares of the specialty chemicals company’s stock worth $40,938,000 after acquiring an additional 10,075 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Chemours by 2.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,381,801 shares of the specialty chemicals company’s stock worth $43,582,000 after acquiring an additional 29,475 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Chemours Stock Up 1.3 %

Chemours stock traded up $0.35 during mid-day trading on Wednesday, reaching $27.08. 1,039,608 shares of the company’s stock were exchanged, compared to its average volume of 1,858,605. The Chemours Company has a twelve month low of $15.10 and a twelve month high of $39.05. The company has a debt-to-equity ratio of 5.40, a current ratio of 1.54 and a quick ratio of 1.00. The company has a fifty day moving average of $26.72 and a 200-day moving average of $27.80.

Chemours (NYSE:CC) last released its earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Chemours had a negative net margin of 3.80% and a positive return on equity of 51.73%. On average, equities research analysts predict that The Chemours Company will post 2.23 EPS for the current year.

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 3.69%. Chemours’s dividend payout ratio (DPR) is presently -64.52%.

Analyst Ratings Changes

CC has been the topic of several recent analyst reports. Barclays decreased their price objective on shares of Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. BMO Capital Markets upgraded shares of Chemours from an “underperform” rating to an “outperform” rating and upped their price objective for the stock from $19.00 to $34.00 in a report on Tuesday, April 9th. Finally, UBS Group upped their price objective on shares of Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.89.

Chemours Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, 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.