UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in The Chemours Company (NYSE:CC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in The Chemours Company (NYSE:CC) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,423 shares of the specialty chemicals company’s stock after selling 19,855 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Chemours were worth $2,289,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its stake in shares of Chemours by 100.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 1,119 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Chemours in the fourth quarter worth $48,000. Itau Unibanco Holding S.A. grew its stake in shares of Chemours by 39.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 1,003 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Chemours in the fourth quarter worth $91,000. Finally, KBC Group NV grew its stake in shares of Chemours by 38.2% in the fourth quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock worth $104,000 after acquiring an additional 1,708 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Damian Gumpel acquired 13,400 shares of the stock in a transaction dated Monday, June 2nd. The shares were purchased at an average cost of $9.22 per share, with a total value of $123,548.00. Following the transaction, the insider now directly owns 123,879 shares in the company, valued at approximately $1,142,164.38. This represents a 12.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Shane Hostetter acquired 4,450 shares of the stock in a transaction dated Monday, May 19th. The shares were bought at an average cost of $11.28 per share, for a total transaction of $50,196.00. Following the completion of the transaction, the chief financial officer now owns 59,694 shares in the company, valued at approximately $673,348.32. This represents a 8.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 25,672 shares of company stock valued at $251,573. Insiders own 0.47% of the company’s stock.

Chemours Trading Up 4.1%

Chemours stock opened at $11.10 on Friday. The stock has a market capitalization of $1.66 billion, a PE ratio of 19.47 and a beta of 1.76. The company has a debt-to-equity ratio of 6.70, a current ratio of 1.68 and a quick ratio of 0.92. The business’s fifty day moving average is $11.20 and its 200 day moving average is $15.37. The Chemours Company has a one year low of $9.13 and a one year high of $25.80.

Chemours (NYSE:CC) last announced its 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 analysts’ expectations of $1.36 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. On average, sell-side analysts predict that The Chemours Company will post 2.03 EPS for the current year.

Chemours Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, May 19th will be given a $0.0875 dividend. The ex-dividend date is Friday, May 16th. This represents a yield of 3.17%. Chemours’s payout ratio is 175.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CC. Wall Street Zen cut Chemours from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Barclays dropped their price objective on Chemours from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 28th. The Goldman Sachs Group dropped their price objective on Chemours from $21.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 14th. UBS Group dropped their price objective on Chemours from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price objective on Chemours from $22.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Chemours currently has an average rating of “Hold” and a consensus target price of $17.22.

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.