The Chemours Company $CC Stake Decreased by Luminus Management LLC

Luminus Management LLC lowered its stake in shares of The Chemours Company (NYSE:CC) by 14.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,765,089 shares of the specialty chemicals company’s stock after selling 296,701 shares during the quarter. Chemours makes up approximately 25.2% of Luminus Management LLC’s portfolio, making the stock its largest holding. Luminus Management LLC owned about 1.18% of Chemours worth $27,959,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Corient Private Wealth LLC lifted its stake in Chemours by 17.4% in the second quarter. Corient Private Wealth LLC now owns 22,690 shares of the specialty chemicals company’s stock valued at $260,000 after purchasing an additional 3,357 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Chemours by 12.0% in the second quarter. Osaic Holdings Inc. now owns 24,221 shares of the specialty chemicals company’s stock valued at $277,000 after buying an additional 2,587 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Chemours during the 2nd quarter valued at $116,000. Nomura Holdings Inc. purchased a new position in shares of Chemours during the 2nd quarter valued at $515,000. Finally, Public Sector Pension Investment Board grew its stake in shares of Chemours by 7.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 510,312 shares of the specialty chemicals company’s stock worth $5,843,000 after acquiring an additional 36,473 shares during the period. Institutional investors own 76.26% of the company’s stock.

Chemours Trading Down 8.8%

Shares of CC opened at $11.81 on Tuesday. The Chemours Company has a 1-year low of $9.13 and a 1-year high of $20.12. The company has a market capitalization of $1.77 billion, a P/E ratio of -5.32 and a beta of 1.59. The company has a debt-to-equity ratio of 13.66, a current ratio of 1.71 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $12.80 and its 200 day simple moving average is $13.39.

Chemours (NYSE:CC) last released its quarterly earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.Chemours’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Sell-side analysts forecast that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 14th were given a dividend of $0.0875 per share. The ex-dividend date was Friday, November 14th. This represents a $0.35 dividend on an annualized basis and a yield of 3.0%. Chemours’s dividend payout ratio (DPR) is presently -15.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Zacks Research cut Chemours from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Royal Bank Of Canada lowered their price target on shares of Chemours from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Mizuho dropped their price target on shares of Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, October 16th. Truist Financial dropped their target price on Chemours from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.00.

Chemours Company 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.