Mirae Asset Global Investments Co. Ltd. Sells 1,925 Shares of The Chemours Company (NYSE:CC)

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of The Chemours Company (NYSE:CC) by 6.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,264 shares of the specialty chemicals company’s stock after selling 1,925 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Chemours were worth $923,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CC. CWM LLC grew its position in shares of Chemours by 41.3% in the 3rd quarter. CWM LLC now owns 3,495 shares of the specialty chemicals company’s stock valued at $98,000 after buying an additional 1,021 shares during the last quarter. IFP Advisors Inc grew its position in shares of Chemours by 39.0% in the 3rd quarter. IFP Advisors Inc now owns 2,232 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 626 shares during the last quarter. Avior Wealth Management LLC bought a new stake in shares of Chemours in the 3rd quarter valued at about $80,000. Richelieu Gestion SA bought a new stake in shares of Chemours in the 3rd quarter valued at about $2,707,000. Finally, Oak Thistle LLC bought a new stake in shares of Chemours in the 3rd quarter valued at about $467,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CC shares. BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and upped their price target for the company from $19.00 to $34.00 in a research report on Tuesday, April 9th. Barclays dropped their price objective on Chemours from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 2nd. Finally, UBS Group boosted their price objective on Chemours from $21.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.89.

Chemours Stock Up 1.1 %

CC stock opened at $26.73 on Wednesday. The stock’s 50 day simple moving average is $26.72 and its 200 day simple moving average is $27.80. The Chemours Company has a fifty-two week low of $15.10 and a fifty-two week high of $39.05. The company has a debt-to-equity ratio of 5.40, a quick ratio of 1.00 and a current ratio of 1.54. The company has a market cap of $3.98 billion, a P/E ratio of -17.25 and a beta of 2.00.

Chemours (NYSE:CC) last posted its quarterly earnings results on Wednesday, March 27th. The specialty chemicals company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Chemours had a positive return on equity of 51.73% and a negative net margin of 3.80%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. On average, research analysts expect that The Chemours Company will post 2.23 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date was Friday, February 23rd. Chemours’s dividend payout ratio (DPR) is currently -64.52%.

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.