Quantbot Technologies LP Reduces Position in The Chemours Company (NYSE:CC)

Quantbot Technologies LP reduced its holdings in shares of The Chemours Company (NYSE:CC - Free Report) by 90.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,459 shares of the specialty chemicals company's stock after selling 111,514 shares during the quarter. Quantbot Technologies LP's holdings in Chemours were worth $233,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Matrix Trust Co acquired a new stake in shares of Chemours in the 3rd quarter valued at about $25,000. Blue Trust Inc. boosted its position in shares of Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 731 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Chemours in the 3rd quarter valued at about $35,000. Signaturefd LLC boosted its position in shares of Chemours by 163.7% in the 3rd quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company's stock valued at $40,000 after purchasing an additional 1,216 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Chemours in the 2nd quarter valued at about $58,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of the firm'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 completion of the transaction, the senior vice president now directly owns 16,645 shares of the company's stock, valued at $343,552.80. This trade represents a 31.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CC has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on Chemours from $30.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 5th. Royal Bank of Canada decreased their price objective on Chemours from $28.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group decreased their price objective on Chemours from $29.00 to $23.00 and set a "neutral" rating for the company in a research report on Tuesday, September 3rd. Barclays increased their price objective on Chemours from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets increased their price objective on Chemours from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $24.88.

Chemours Stock Performance

Shares of CC stock traded down $0.18 during trading hours on Thursday, reaching $21.10. 1,797,561 shares of the company's stock were exchanged, compared to its average volume of 1,569,270. The company has a market cap of $3.15 billion, a P/E ratio of 42.56 and a beta of 1.80. The company's 50 day moving average is $19.86 and its two-hundred day moving average is $21.14. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92.

Chemours (NYSE:CC - Get Free Report) last issued its earnings results 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 business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company's revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. Equities research analysts anticipate that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Friday, November 15th. Chemours's payout ratio is currently 200.00%.

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.