Mutual of America Capital Management LLC Sells 4,577 Shares of The Chemours Company (NYSE:CC)

Mutual of America Capital Management LLC decreased its stake in The Chemours Company (NYSE:CC) by 5.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 80,674 shares of the specialty chemicals company’s stock after selling 4,577 shares during the period. Mutual of America Capital Management LLC’s holdings in Chemours were worth $1,639,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Khrom Capital Management LLC boosted its position in Chemours by 54.6% during the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock valued at $78,016,000 after acquiring an additional 1,220,967 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Chemours in the 1st quarter valued at $1,764,000. Point72 Hong Kong Ltd acquired a new position in shares of Chemours during the 2nd quarter valued at $789,000. Jade Capital Advisors LLC boosted its position in shares of Chemours by 75.0% during the 3rd quarter. Jade Capital Advisors LLC now owns 70,000 shares of the specialty chemicals company’s stock worth $1,422,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Private Management Group Inc. grew its stake in shares of Chemours by 72.0% in the 3rd quarter. Private Management Group Inc. now owns 785,809 shares of the specialty chemicals company’s stock valued at $15,968,000 after buying an additional 329,037 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on CC. UBS Group reduced their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Barclays raised their price target 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. BMO Capital Markets boosted their price objective on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. JPMorgan Chase & Co. dropped their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group decreased their price target on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Chemours has a consensus rating of “Hold” and a consensus target price of $24.88.

Chemours Stock Performance

CC stock opened at $21.94 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05. The firm has a market cap of $3.28 billion, a PE ratio of 43.88 and a beta of 1.75. The business has a 50 day moving average of $19.47 and a 200-day moving average of $21.44. The Chemours Company has a 12-month low of $15.10 and a 12-month high of $32.70.

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

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 4.56%. Chemours’s payout ratio is 200.00%.

Insider Buying and Selling at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction 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 sale, the senior vice president now owns 16,645 shares in the company, valued at $343,552.80. This represents a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.47% of the company’s stock.

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.