Mitsubishi UFJ Trust & Banking Corp Sells 6,083 Shares of The Chemours Company (NYSE:CC)

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of The Chemours Company (NYSE:CCGet Rating) by 23.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,507 shares of the specialty chemicals company’s stock after selling 6,083 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Chemours were worth $625,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Chemours by 29.0% in the first quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company’s stock worth $569,023,000 after acquiring an additional 4,060,250 shares during the period. State Street Corp raised its position in shares of Chemours by 5.8% in the first quarter. State Street Corp now owns 4,618,424 shares of the specialty chemicals company’s stock valued at $145,388,000 after purchasing an additional 254,243 shares during the period. Greenlight Capital Inc. raised its position in shares of Chemours by 23.0% in the first quarter. Greenlight Capital Inc. now owns 2,141,814 shares of the specialty chemicals company’s stock valued at $67,424,000 after purchasing an additional 400,000 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Chemours by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,015,462 shares of the specialty chemicals company’s stock valued at $63,455,000 after purchasing an additional 19,836 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Chemours by 12.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,500,461 shares of the specialty chemicals company’s stock valued at $47,234,000 after purchasing an additional 168,809 shares during the period. Institutional investors own 70.86% of the company’s stock.

Chemours Stock Down 2.7 %

Shares of NYSE:CC opened at $32.17 on Tuesday. The stock has a market capitalization of $4.86 billion, a P/E ratio of 5.73, a price-to-earnings-growth ratio of 0.55 and a beta of 1.86. The stock’s 50-day moving average price is $29.07 and its 200-day moving average price is $33.59. The company has a current ratio of 1.82, a quick ratio of 1.14 and a debt-to-equity ratio of 2.73. The Chemours Company has a 12-month low of $22.56 and a 12-month high of $44.95.

Chemours (NYSE:CCGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. Chemours had a return on equity of 73.45% and a net margin of 12.91%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $1.27 EPS. Chemours’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate that The Chemours Company will post 4.93 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.11%. Chemours’s dividend payout ratio is presently 17.83%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CC shares. Morgan Stanley lowered their price target on shares of Chemours from $41.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 25th. StockNews.com raised shares of Chemours from a “hold” rating to a “buy” rating in a research report on Tuesday. The Goldman Sachs Group initiated coverage on shares of Chemours in a research note on Thursday, October 13th. They set a “neutral” rating and a $30.00 price objective for the company. UBS Group boosted their price objective on shares of Chemours from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Finally, Barclays boosted their price objective on shares of Chemours from $30.00 to $34.00 in a research note on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $33.00.

Chemours Profile

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

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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