State Street Corp Has $92.42 Million Stake in The Chemours Company (NYSE:CC)

State Street Corp decreased its holdings in shares of The Chemours Company (NYSE:CC - Free Report) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,548,019 shares of the specialty chemicals company's stock after selling 109,125 shares during the quarter. State Street Corp owned about 3.04% of Chemours worth $92,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Matrix Trust Co bought a new stake in Chemours during the third quarter worth about $25,000. Blue Trust Inc. increased its stake in Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 731 shares during the period. Truvestments Capital LLC purchased a new position in shares of Chemours during the third quarter valued at $35,000. Brooklyn Investment Group purchased a new position in Chemours in the third quarter valued at about $37,000. Finally, Signaturefd LLC boosted its holdings in Chemours by 163.7% in the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company's stock worth $40,000 after acquiring an additional 1,216 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Alvenia Scarborough sold 7,500 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the transaction, the senior vice president now owns 16,645 shares in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CC has been the subject of a number of research reports. The Goldman Sachs Group dropped their target price on shares of Chemours from $29.00 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, September 3rd. Morgan Stanley decreased their target price on shares of Chemours from $30.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 target price on shares of Chemours in a research note on Thursday, December 12th. BMO Capital Markets lifted their target price on Chemours from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Monday, October 7th. Finally, Barclays increased their price objective on shares of Chemours from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $24.88.

Chemours Stock Down 2.9 %

Shares of CC stock traded down $0.55 during mid-day trading on Tuesday, reaching $18.21. 1,466,935 shares of the company were exchanged, compared to its average volume of 1,590,782. The company has a market capitalization of $2.72 billion, a P/E ratio of 37.52 and a beta of 1.80. The business's 50 day simple moving average is $19.90 and its 200 day simple moving average is $20.72. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $32.70.

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

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend was Friday, November 15th. Chemours's dividend payout ratio is currently 200.00%.

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.