Bank of New York Mellon Corp lessened its stake in shares of The Chemours Company (NYSE:CC – Get Rating) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,216,981 shares of the specialty chemicals company’s stock after selling 36,996 shares during the period. Bank of New York Mellon Corp owned 1.47% of Chemours worth $54,648,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CC. BlackRock Inc. lifted its position in Chemours by 29.0% in the first quarter. BlackRock Inc. now owns 18,075,740 shares of the specialty chemicals company’s stock worth $569,023,000 after purchasing an additional 4,060,250 shares during the period. First Trust Advisors LP lifted its holdings in shares of Chemours by 214.1% during the first quarter. First Trust Advisors LP now owns 1,314,288 shares of the specialty chemicals company’s stock valued at $41,374,000 after acquiring an additional 895,847 shares during the period. Appian Way Asset Management LP lifted its holdings in shares of Chemours by 428.1% during the third quarter. Appian Way Asset Management LP now owns 768,907 shares of the specialty chemicals company’s stock valued at $18,954,000 after acquiring an additional 623,307 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Chemours by 824.2% during the third quarter. Prudential Financial Inc. now owns 691,017 shares of the specialty chemicals company’s stock valued at $17,033,000 after acquiring an additional 616,244 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Chemours by 89.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,152,671 shares of the specialty chemicals company’s stock valued at $36,909,000 after acquiring an additional 543,559 shares during the period. Institutional investors and hedge funds own 71.89% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on CC. StockNews.com cut Chemours from a “buy” rating to a “hold” rating in a report on Monday, February 13th. Credit Suisse Group raised their target price on Chemours from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Friday, February 10th. Royal Bank of Canada raised their target price on Chemours from $33.00 to $36.00 and gave the company a “sector perform” rating in a research note on Monday, February 13th. The Goldman Sachs Group lifted their price objective on Chemours from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 14th. Finally, UBS Group upgraded Chemours from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $43.00 in a research report on Tuesday, January 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.33.
Chemours Price Performance
Chemours Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Friday, February 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Thursday, February 23rd. Chemours’s dividend payout ratio (DPR) is presently 28.01%.
In other news, insider Alisha Bellezza sold 27,716 shares of Chemours stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $35.47, for a total transaction of $983,086.52. Following the transaction, the insider now owns 43,931 shares in the company, valued at approximately $1,558,232.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.04% of the stock is currently owned by company insiders.
The Chemours Co is a holding company, which engages in the provision of performance chemicals. The firm delivers solutions, which include a range of industrial and chemical products for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, and general industrial.
- Get a free copy of the StockNews.com research report on Chemours (CC)
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