ARGA Investment Management LP Sells 56,671 Shares of The Chemours Company $CC

ARGA Investment Management LP lowered its stake in shares of The Chemours Company (NYSE:CC) by 73.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,150 shares of the specialty chemicals company’s stock after selling 56,671 shares during the period. ARGA Investment Management LP’s holdings in Chemours were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. MTM Investment Management LLC purchased a new stake in shares of Chemours during the second quarter valued at $27,000. GAMMA Investing LLC lifted its holdings in Chemours by 130.7% in the second quarter. GAMMA Investing LLC now owns 3,175 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 1,799 shares during the period. Evelyn Partners Asset Management Ltd purchased a new stake in Chemours during the second quarter worth $37,000. FNY Investment Advisers LLC boosted its stake in shares of Chemours by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 4,000 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 2,000 shares in the last quarter. Finally, CWM LLC grew its stake in Chemours by 34.7% in the 2nd quarter. CWM LLC now owns 4,290 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 1,104 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CC. Royal Bank Of Canada restated an “outperform” rating and set a $18.00 price objective on shares of Chemours in a research report on Friday, January 16th. Truist Financial lifted their target price on Chemours from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday. Zacks Research cut shares of Chemours from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. UBS Group lowered their price objective on shares of Chemours from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Mizuho cut their target price on shares of Chemours from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, October 16th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chemours has a consensus rating of “Hold” and a consensus price target of $16.67.

Chemours Stock Down 1.7%

CC stock opened at $15.78 on Friday. The Chemours Company has a 52 week low of $9.13 and a 52 week high of $20.07. The company has a market cap of $2.36 billion, a P/E ratio of -7.11 and a beta of 1.61. The company’s 50-day moving average price is $12.87 and its 200 day moving average price is $13.79. The company has a current ratio of 1.71, a quick ratio of 0.88 and a debt-to-equity ratio of 13.66.

Chemours (NYSE:CC) last announced its earnings results on Thursday, November 6th. The specialty chemicals company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Chemours had a positive return on equity of 35.27% and a negative net margin of 5.70%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue was down .9% on a year-over-year basis. On average, research analysts expect that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 14th were paid a dividend of $0.0875 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.2%. Chemours’s dividend payout ratio (DPR) is presently -15.77%.

Chemours Company 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.