Citigroup Inc. Lowers Position in The Chemours Company $CC

Citigroup Inc. lessened its stake in shares of The Chemours Company (NYSE:CC) by 32.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 275,184 shares of the specialty chemicals company’s stock after selling 129,646 shares during the period. Citigroup Inc. owned 0.18% of Chemours worth $4,359,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank grew its stake in shares of Chemours by 1.7% during the 3rd quarter. Amalgamated Bank now owns 43,528 shares of the specialty chemicals company’s stock valued at $689,000 after acquiring an additional 740 shares during the period. Man Group plc lifted its holdings in Chemours by 0.4% during the second quarter. Man Group plc now owns 271,108 shares of the specialty chemicals company’s stock valued at $3,104,000 after purchasing an additional 979 shares in the last quarter. CWM LLC lifted its holdings in Chemours by 34.7% during the second quarter. CWM LLC now owns 4,290 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 1,104 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Chemours by 3.5% in the second quarter. PNC Financial Services Group Inc. now owns 54,452 shares of the specialty chemicals company’s stock worth $623,000 after purchasing an additional 1,852 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Chemours by 18.9% in the second quarter. Tower Research Capital LLC TRC now owns 12,123 shares of the specialty chemicals company’s stock worth $139,000 after purchasing an additional 1,925 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CC. Morgan Stanley upped their target price on shares of Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. The Goldman Sachs Group upped their price objective on Chemours from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Jefferies Financial Group reissued a “hold” rating and set a $17.00 target price on shares of Chemours in a research note on Monday, February 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $18.00 price target on shares of Chemours in a research note on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

Chemours Stock Up 4.5%

Shares of CC opened at $17.52 on Thursday. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.78 and a quick ratio of 0.85. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -7.06 and a beta of 1.60. The Chemours Company has a 1 year low of $9.13 and a 1 year high of $21.85. The business’s 50 day simple moving average is $16.19 and its 200-day simple moving average is $14.71.

Chemours (NYSE:CC) last announced its quarterly earnings results on Thursday, February 19th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Chemours had a negative net margin of 6.41% and a positive return on equity of 41.75%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business posted $0.09 earnings per share. Chemours’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts expect that The Chemours Company will post 2.03 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.0875 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.0%. Chemours’s dividend payout ratio (DPR) is presently -14.11%.

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.