Swiss National Bank Sells 2,400 Shares of The Chemours Company (NYSE:CC)

Swiss National Bank lessened its stake in shares of The Chemours Company (NYSE:CC) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,700 shares of the specialty chemicals company’s stock after selling 2,400 shares during the period. Swiss National Bank owned 0.19% of Chemours worth $5,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in CC. New Covenant Trust Company N.A. bought a new stake in Chemours in the 1st quarter worth approximately $29,000. Blue Trust Inc. grew its holdings in shares of Chemours by 166.9% in the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 731 shares in the last quarter. Matrix Trust Co bought a new stake in Chemours in the third quarter worth $25,000. Signaturefd LLC raised its stake in Chemours by 163.7% during 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 in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Chemours during the second quarter valued at $58,000. 76.26% of the stock is owned by institutional investors.

Insider Transactions at Chemours

In related news, SVP Alvenia Scarborough sold 7,500 shares of Chemours stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total transaction of $154,800.00. Following the transaction, the senior vice president now directly owns 16,645 shares of the company’s stock, valued at $343,552.80. This trade represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group lowered their price target on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their price objective on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Morgan Stanley cut their target price on Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Barclays increased their price target on Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada dropped their price objective on shares of Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.88.

Chemours Stock Down 0.1 %

Shares of CC opened at $21.92 on Wednesday. The firm has a market capitalization of $3.27 billion, a P/E ratio of 43.83 and a beta of 1.75. The Chemours Company has a 12-month low of $15.10 and a 12-month high of $32.70. The firm has a fifty day moving average price of $19.47 and a 200-day moving average price of $21.44. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05.

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

Chemours Dividend Announcement

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

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.