Massachusetts Financial Services Co. MA Trims Stake in The Chemours Company (NYSE:CC)

Massachusetts Financial Services Co. MA lessened its position in The Chemours Company (NYSE:CC - Free Report) by 38.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,526,108 shares of the specialty chemicals company's stock after selling 967,691 shares during the period. Massachusetts Financial Services Co. MA owned about 1.02% of Chemours worth $31,011,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Khrom Capital Management LLC lifted its position in Chemours by 54.6% during the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company's stock valued at $78,016,000 after purchasing an additional 1,220,967 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Chemours during the 1st quarter valued at $1,764,000. Point72 Hong Kong Ltd purchased a new position in shares of Chemours in the 2nd quarter worth $789,000. Jade Capital Advisors LLC boosted its stake in shares of Chemours by 75.0% in the 3rd quarter. Jade Capital Advisors LLC now owns 70,000 shares of the specialty chemicals company's stock worth $1,422,000 after buying an additional 30,000 shares during the last quarter. Finally, Private Management Group Inc. grew its holdings in shares of Chemours by 72.0% in the third quarter. Private Management Group Inc. now owns 785,809 shares of the specialty chemicals company's stock worth $15,968,000 after acquiring an additional 329,037 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Chemours Stock Down 0.1 %

Shares of CC traded down $0.03 during trading hours on Tuesday, hitting $21.92. The company had a trading volume of 1,614,581 shares, compared to its average volume of 1,577,987. The Chemours Company has a one year low of $15.10 and a one year high of $32.70. The company's fifty day moving average price is $19.47 and its two-hundred day moving average price is $21.44. The company has a market capitalization of $3.27 billion, a PE ratio of 43.34 and a beta of 1.75. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.08. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The company's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. As a group, equities analysts forecast that The Chemours Company will post 1.35 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.56%. Chemours's payout ratio is 200.00%.

Insider Activity

In related news, SVP Alvenia Scarborough sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the sale, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CC. BMO Capital Markets boosted their price target on Chemours from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, October 7th. UBS Group cut their target price on shares of Chemours from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. The Goldman Sachs Group decreased their price target on shares of Chemours from $29.00 to $23.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price objective on shares of Chemours from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada decreased their target price on Chemours from $28.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $24.88.

Chemours Company 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.