The Chemours Company (NYSE:CC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of The Chemours Company (NYSE:CC) by 30.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,646 shares of the specialty chemicals company’s stock after selling 1,141 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Chemours were worth $54,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CC. Burney Co. raised its stake in Chemours by 0.3% during the 1st quarter. Burney Co. now owns 197,046 shares of the specialty chemicals company’s stock valued at $5,174,000 after purchasing an additional 601 shares during the period. Lavaca Capital LLC increased its stake in shares of Chemours by 2.7% in the first quarter. Lavaca Capital LLC now owns 24,658 shares of the specialty chemicals company’s stock worth $648,000 after acquiring an additional 641 shares during the last quarter. Blue Trust Inc. increased its position in Chemours by 166.9% during the third quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 731 shares during the last quarter. Arizona State Retirement System increased its position in Chemours by 2.1% during the second quarter. Arizona State Retirement System now owns 41,657 shares of the specialty chemicals company’s stock worth $940,000 after buying an additional 863 shares during the last quarter. Finally, New Covenant Trust Company N.A. acquired a new position in Chemours during the first quarter worth $29,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

CC has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their price target on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Barclays decreased their price target on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. reduced their target price on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. BMO Capital Markets raised their price target on shares of Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada dropped their price objective on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.00.

Chemours Stock Up 15.5 %

Shares of CC stock opened at $20.58 on Tuesday. The firm has a market capitalization of $3.07 billion, a P/E ratio of 25.27 and a beta of 1.75. The firm’s fifty day moving average price is $18.95 and its two-hundred day moving average price is $22.23. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70. The company has a current ratio of 1.89, a quick ratio of 1.01 and a debt-to-equity ratio of 5.45.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 4.86%. Chemours’s dividend payout ratio is presently 123.46%.

Chemours Profile

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.