SG Americas Securities LLC Trims Stock Position in The Chemours Company $CC

SG Americas Securities LLC lessened its stake in The Chemours Company (NYSE:CC) by 74.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,192 shares of the specialty chemicals company’s stock after selling 176,044 shares during the quarter. SG Americas Securities LLC’s holdings in Chemours were worth $1,326,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its holdings in Chemours by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,300 shares of the specialty chemicals company’s stock worth $404,000 after acquiring an additional 600 shares during the period. PFG Investments LLC lifted its holdings in Chemours by 7.6% in the fourth quarter. PFG Investments LLC now owns 12,494 shares of the specialty chemicals company’s stock valued at $147,000 after acquiring an additional 883 shares during the period. State of Alaska Department of Revenue boosted its position in Chemours by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 76,257 shares of the specialty chemicals company’s stock worth $899,000 after purchasing an additional 932 shares in the last quarter. Man Group plc boosted its position in Chemours by 0.4% in the 2nd quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock worth $3,104,000 after purchasing an additional 979 shares in the last quarter. Finally, Rothschild Investment LLC grew its stake in shares of Chemours by 87.0% during the 4th quarter. Rothschild Investment LLC now owns 2,698 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 1,255 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Stock Down 0.2%

Shares of CC opened at $18.98 on Friday. The firm has a market cap of $2.85 billion, a P/E ratio of -7.19 and a beta of 1.41. The Chemours Company has a 12 month low of $10.44 and a 12 month high of $28.67. The stock’s 50 day moving average is $22.50 and its two-hundred day moving average is $19.24. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 18.98.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.10. Chemours had a positive return on equity of 52.49% and a negative net margin of 6.82%.The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $0.13 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts predict that The Chemours Company will post 1.16 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were issued a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 15th. Chemours’s payout ratio is presently -13.26%.

Analyst Upgrades and Downgrades

CC has been the subject of several recent research reports. Zacks Research raised shares of Chemours from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Mizuho lowered their price target on shares of Chemours from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday. Truist Financial increased their price target on shares of Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Royal Bank Of Canada raised their price target on shares of Chemours from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, UBS Group lifted their price objective on shares of Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.10.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.