Voya Investment Management LLC Sells 1,448 Shares of The Chemours Company (NYSE:CC)

Voya Investment Management LLC lowered its holdings in The Chemours Company (NYSE:CC) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,663 shares of the specialty chemicals company’s stock after selling 1,448 shares during the quarter. Voya Investment Management LLC’s holdings in Chemours were worth $366,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Chemours by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 15,223,961 shares of the specialty chemicals company’s stock valued at $257,285,000 after acquiring an additional 94,885 shares during the period. Norges Bank bought a new stake in Chemours in the fourth quarter valued at about $30,702,000. Dimensional Fund Advisors LP lifted its holdings in shares of Chemours by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,779,702 shares of the specialty chemicals company’s stock valued at $30,077,000 after acquiring an additional 328,414 shares during the period. American Century Companies Inc. lifted its holdings in shares of Chemours by 7.6% during the fourth quarter. American Century Companies Inc. now owns 1,625,019 shares of the specialty chemicals company’s stock valued at $27,463,000 after acquiring an additional 115,436 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Chemours by 4.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,593,070 shares of the specialty chemicals company’s stock valued at $26,923,000 after acquiring an additional 66,962 shares during the period. Institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CC. UBS Group cut their price objective on Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Royal Bank of Canada cut their target price on shares of Chemours from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday. Mizuho set a $15.00 price target on Chemours in a research report on Tuesday, April 15th. BMO Capital Markets decreased their price target on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, StockNews.com lowered Chemours from a “hold” rating to a “sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.11.

Chemours Price Performance

Chemours stock opened at $11.12 on Monday. The business’s 50-day simple moving average is $12.55 and its 200 day simple moving average is $16.51. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 19.51 and a beta of 1.76. The Chemours Company has a 12-month low of $9.33 and a 12-month high of $29.21. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. Chemours’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. As a group, research analysts anticipate that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.99%. The ex-dividend date was Friday, February 28th. Chemours’s payout ratio is 500.00%.

About Chemours

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.