Lighthouse Investment Partners LLC Sells 144,757 Shares of The Chemours Company $CC

Lighthouse Investment Partners LLC lowered its stake in shares of The Chemours Company (NYSE:CC) by 32.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 306,187 shares of the specialty chemicals company’s stock after selling 144,757 shares during the period. Lighthouse Investment Partners LLC owned 0.20% of Chemours worth $4,850,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Amalgamated Bank increased its holdings in Chemours by 1.7% during the third quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock worth $689,000 after buying an additional 740 shares during the last quarter. Man Group plc lifted its stake in Chemours by 0.4% in the second quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock valued at $3,104,000 after acquiring an additional 979 shares during the last quarter. CWM LLC grew its position in shares of Chemours by 32.4% in the 3rd quarter. CWM LLC now owns 5,682 shares of the specialty chemicals company’s stock valued at $90,000 after acquiring an additional 1,392 shares during the period. Alliancebernstein L.P. grew its position in shares of Chemours by 1.1% in the 3rd quarter. Alliancebernstein L.P. now owns 167,886 shares of the specialty chemicals company’s stock valued at $2,659,000 after acquiring an additional 1,756 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Chemours by 3.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 54,452 shares of the specialty chemicals company’s stock worth $623,000 after purchasing an additional 1,852 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analysts Set New Price Targets

CC has been the topic of a number of research analyst reports. Mizuho upped their target price on shares of Chemours from $17.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. Jefferies Financial Group reissued a “hold” rating and set a $17.00 price target on shares of Chemours in a research report on Monday, February 23rd. BMO Capital Markets dropped their price objective on Chemours from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 23rd. The Goldman Sachs Group raised their price objective on Chemours from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lifted their target price on Chemours from $13.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.40.

Chemours Stock Performance

NYSE CC opened at $17.65 on Tuesday. The stock has a market cap of $2.65 billion, a PE ratio of -7.11 and a beta of 1.60. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78. The firm has a 50-day moving average of $17.05 and a 200-day moving average of $14.85. The Chemours Company has a 52-week low of $9.13 and a 52-week high of $21.85.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. Chemours’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. On average, sell-side analysts anticipate that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $0.0875 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.35 annualized dividend and a dividend yield of 2.0%. Chemours’s dividend payout ratio is presently -14.11%.

Chemours Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.