Principal Financial Group Inc. Sells 150,157 Shares of The Chemours Company (NYSE:CC)

Principal Financial Group Inc. trimmed its stake in shares of The Chemours Company (NYSE:CC - Free Report) by 30.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,916 shares of the specialty chemicals company's stock after selling 150,157 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Chemours worth $7,029,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. bought a new stake in shares of Chemours in the 1st quarter valued at $29,000. Blue Trust Inc. raised its holdings in Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 731 shares during the last quarter. Matrix Trust Co purchased a new stake in shares of Chemours in the third quarter valued at about $25,000. Signaturefd LLC raised its holdings in shares of Chemours by 163.7% in the third 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 last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Chemours in the second quarter valued at about $58,000. 76.26% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Alvenia Scarborough sold 7,500 shares of the business'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 transaction of $154,800.00. Following the completion of the transaction, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.47% of the company's stock.

Chemours Trading Up 1.6 %

NYSE:CC traded up $0.31 during trading hours on Wednesday, hitting $19.16. The company had a trading volume of 503,640 shares, compared to its average volume of 1,568,061. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $32.70. The company has a market capitalization of $2.86 billion, a PE ratio of 37.68 and a beta of 1.75. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. The stock has a 50-day moving average price of $19.20 and a 200 day moving average price of $21.63.

Chemours (NYSE:CC - Get Free Report) last announced its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.08. The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. On average, equities research analysts predict that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Friday, November 15th. Chemours's dividend payout ratio (DPR) is 200.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group reduced their price target 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. Barclays raised 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. Royal Bank of Canada lowered their target price on shares of Chemours from $28.00 to $25.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lowered their target price on shares of Chemours from $25.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 6th. Finally, Morgan Stanley decreased their price target on shares of Chemours from $30.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $24.88.

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.