Thrivent Financial for Lutherans Sells 63,086 Shares of The Chemours Company (NYSE:CC)

Thrivent Financial for Lutherans reduced its position in The Chemours Company (NYSE:CC - Free Report) by 25.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,501 shares of the specialty chemicals company's stock after selling 63,086 shares during the period. Thrivent Financial for Lutherans owned approximately 0.12% of Chemours worth $3,068,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of Chemours by 99.7% in the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 765 shares in the last quarter. Truvestments Capital LLC bought a new position in Chemours in the 3rd quarter valued at about $35,000. Brooklyn Investment Group acquired a new position in Chemours during the 3rd quarter valued at about $37,000. KBC Group NV boosted its stake in Chemours by 38.2% during the 4th quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company's stock valued at $104,000 after purchasing an additional 1,708 shares during the last quarter. Finally, Quest Partners LLC raised its stake in shares of Chemours by 7,206.4% in the third quarter. Quest Partners LLC now owns 7,964 shares of the specialty chemicals company's stock worth $162,000 after purchasing an additional 7,855 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CC. Morgan Stanley cut their target price on Chemours from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. BMO Capital Markets cut their price objective on shares of Chemours from $34.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Mizuho upgraded shares of Chemours from a "neutral" rating to an "outperform" rating and set a $19.00 target price for the company in a report on Thursday. Royal Bank of Canada restated an "outperform" rating and set a $25.00 price target on shares of Chemours in a report on Thursday, December 12th. Finally, The Goldman Sachs Group decreased their price objective on shares of Chemours from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.89.

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Chemours Stock Performance

CC traded down $0.57 during midday trading on Friday, reaching $13.73. The company had a trading volume of 2,347,561 shares, compared to its average volume of 1,727,933. The Chemours Company has a 12-month low of $13.09 and a 12-month high of $29.21. The business has a 50-day moving average price of $16.41 and a two-hundred day moving average price of $18.21. The stock has a market cap of $2.05 billion, a PE ratio of 24.08 and a beta of 2.00. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68.

Chemours (NYSE:CC - Get Free Report) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a return on equity of 26.54% and a net margin of 1.51%. On average, sell-side analysts expect that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date of this dividend was Friday, February 28th. Chemours's payout ratio is presently 175.44%.

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.