Great Lakes Advisors LLC Sells 4,197 Shares of The Chemours Company (NYSE:CC)

Great Lakes Advisors LLC cut its holdings in shares of The Chemours Company (NYSE:CC) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 683,249 shares of the specialty chemicals company’s stock after selling 4,197 shares during the quarter. Great Lakes Advisors LLC’s holdings in The Chemours were worth $23,777,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CC. Vaughan Nelson Investment Management L.P. bought a new stake in shares of The Chemours in the 1st quarter valued at about $56,720,000. American Century Companies Inc. raised its holdings in shares of The Chemours by 474.6% in the 2nd quarter. American Century Companies Inc. now owns 1,505,677 shares of the specialty chemicals company’s stock valued at $52,398,000 after purchasing an additional 1,243,648 shares during the period. BlackRock Inc. raised its holdings in shares of The Chemours by 4.1% in the 1st quarter. BlackRock Inc. now owns 14,180,914 shares of the specialty chemicals company’s stock valued at $395,789,000 after purchasing an additional 553,040 shares during the period. Mackenzie Financial Corp raised its holdings in shares of The Chemours by 90.7% in the 2nd quarter. Mackenzie Financial Corp now owns 746,443 shares of the specialty chemicals company’s stock valued at $25,976,000 after purchasing an additional 354,983 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of The Chemours by 157.6% in the 1st quarter. Russell Investments Group Ltd. now owns 495,428 shares of the specialty chemicals company’s stock valued at $13,824,000 after purchasing an additional 303,077 shares during the period. 73.30% of the stock is currently owned by institutional investors.

Shares of NYSE:CC traded up $0.56 on Wednesday, reaching $27.57. 37,234 shares of the company’s stock were exchanged, compared to its average volume of 1,296,600. The company has a fifty day moving average of $32.61 and a 200-day moving average of $32.22. The Chemours Company has a twelve month low of $19.36 and a twelve month high of $38.87. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 0.28 and a beta of 2.14. The company has a current ratio of 1.82, a quick ratio of 1.20 and a debt-to-equity ratio of 4.40.

The Chemours (NYSE:CC) last announced its earnings results on Thursday, July 29th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.31. The Chemours had a net margin of 4.57% and a return on equity of 61.31%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.51 billion. As a group, equities research analysts forecast that The Chemours Company will post 3.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Monday, August 16th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.63%. The Chemours’s payout ratio is presently 50.51%.

A number of equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of The Chemours in a report on Wednesday, June 9th. They issued an “outperform” rating on the stock. Royal Bank of Canada upped their target price on shares of The Chemours from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, August 3rd. The Goldman Sachs Group upgraded shares of The Chemours from a “neutral” rating to a “buy” rating and upped their price target for the company from $35.00 to $47.00 in a research note on Wednesday, June 9th. Finally, BMO Capital Markets upped their price target on shares of The Chemours from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, June 30th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, The Chemours presently has a consensus rating of “Buy” and an average price target of $36.20.

In related news, CFO Sameer Ralhan sold 15,085 shares of the stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $35.00, for a total transaction of $527,975.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Denise Dignam sold 5,571 shares of the stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $33.86, for a total transaction of $188,634.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,876 shares of company stock worth $5,831,699. Company insiders own 2.78% of the company’s stock.

About The Chemours

The Chemours Co is a holding company that engages in the provision of performance chemicals. The firm deliver solutions, which include a range of industrial and chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, mining, and oil & gas.

Further Reading: Green Investing

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Institutional Ownership by Quarter for The Chemours (NYSE:CC)

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