The Chemours Company $CC Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its position in The Chemours Company (NYSE:CC) by 47.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 122,968 shares of the specialty chemicals company’s stock after selling 109,392 shares during the period. Hsbc Holdings PLC’s holdings in Chemours were worth $1,462,000 at the end of the most recent quarter.

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

Chemours Trading Up 2.4%

Chemours stock traded up $0.42 during trading on Friday, hitting $17.81. The company had a trading volume of 1,952,003 shares, compared to its average volume of 2,611,242. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -6.75 and a beta of 1.41. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 18.98. The Chemours Company has a 1-year low of $10.44 and a 1-year high of $28.67. The company’s 50 day simple moving average is $21.73 and its 200-day simple moving average is $19.46.

Chemours (NYSE:CC) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 EPS 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 analyst estimates of $1.40 billion. During the same period last year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts expect that The Chemours Company will post 1.16 EPS for the current fiscal year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th were given a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 15th. Chemours’s payout ratio is currently -13.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CC. Royal Bank Of Canada upped their price objective on Chemours from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Truist Financial upped their price target on Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Morgan Stanley increased their price target on Chemours from $17.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Mizuho cut their price objective on Chemours from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. 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 company. Based on data from MarketBeat, Chemours has a consensus rating of “Hold” and an average target price of $24.10.

Chemours 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.