The Chemours Company (NYSE:CC) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its holdings in The Chemours Company (NYSE:CC - Free Report) by 4.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 487,645 shares of the specialty chemicals company's stock after selling 22,698 shares during the period. M&T Bank Corp owned approximately 0.33% of Chemours worth $8,241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC grew its stake in shares of Chemours by 3.5% in the 3rd quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company's stock worth $368,650,000 after buying an additional 618,361 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Chemours by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,491,748 shares of the specialty chemicals company's stock worth $50,646,000 after purchasing an additional 28,803 shares during the period. Appian Way Asset Management LP purchased a new position in shares of Chemours during the 3rd quarter worth about $34,151,000. Vision One Management Partners LP purchased a new position in shares of Chemours during the 3rd quarter worth about $28,252,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Chemours by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,302,272 shares of the specialty chemicals company's stock worth $22,008,000 after purchasing an additional 73,220 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Chemours Stock Up 0.8 %

Shares of NYSE:CC traded up $0.12 during trading hours on Friday, hitting $14.11. The company's stock had a trading volume of 3,951,679 shares, compared to its average volume of 1,533,621. The Chemours Company has a 52 week low of $13.31 and a 52 week high of $29.21. 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 company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 24.75 and a beta of 2.00. The firm's fifty day moving average price is $17.51 and its 200 day moving average price is $18.67.

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

Chemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 7.09%. Chemours's dividend payout ratio (DPR) is presently 175.44%.

Analyst Ratings Changes

A number of equities analysts recently commented on CC shares. Morgan Stanley dropped their price target on shares of Chemours from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Truist Financial started coverage on shares of Chemours in a research note on Tuesday, January 28th. They set a "buy" rating and a $27.00 price target for the company. Mizuho dropped their price target on shares of Chemours from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. BMO Capital Markets lowered their price objective on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 price objective on shares of Chemours in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $23.11.

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.