Bank of New York Mellon Corp Has $17.75 Million Holdings in The Chemours Company (NYSE:CC)

Bank of New York Mellon Corp lessened its stake in The Chemours Company (NYSE:CC - Free Report) by 29.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,049,985 shares of the specialty chemicals company's stock after selling 438,931 shares during the quarter. Bank of New York Mellon Corp owned about 0.70% of Chemours worth $17,745,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC raised its stake in Chemours by 99.7% during the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 765 shares in the last quarter. Truvestments Capital LLC acquired a new position in Chemours during the third quarter worth about $35,000. Brooklyn Investment Group acquired a new position in Chemours during the third quarter worth about $37,000. Prospera Private Wealth LLC acquired a new position in Chemours during the third quarter worth about $75,000. Finally, KBC Group NV raised its stake in Chemours by 19.5% during the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company's stock worth $91,000 after acquiring an additional 728 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Ratings Changes

CC has been the subject of several recent research reports. BMO Capital Markets lowered their price objective on Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Truist Financial assumed coverage on Chemours in a research note on Tuesday, January 28th. They issued a "buy" rating and a $27.00 price objective for the company. Barclays reduced their target price on Chemours from $23.00 to $19.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Mizuho reduced their target price on Chemours from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley reduced their target price on Chemours from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $23.11.

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Chemours Price Performance

Shares of NYSE:CC opened at $13.69 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The Chemours Company has a twelve month low of $13.09 and a twelve month high of $29.21. The stock's 50 day moving average is $17.38 and its 200-day moving average is $18.59. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 24.02 and a beta of 2.00.

Chemours (NYSE:CC - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. Sell-side analysts forecast that The Chemours Company will post 2.03 EPS for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date is Friday, February 28th. Chemours's payout ratio is currently 175.44%.

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.

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