Luminus Management LLC Decreases Holdings in The Chemours Company (NYSE:CC)

Luminus Management LLC trimmed its position in The Chemours Company (NYSE:CC) by 62.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 601,541 shares of the specialty chemicals company’s stock after selling 1,014,661 shares during the period. Chemours comprises approximately 11.7% of Luminus Management LLC’s holdings, making the stock its 4th largest holding. Luminus Management LLC owned about 0.40% of Chemours worth $10,166,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CC. GAMMA Investing LLC boosted its position in shares of Chemours by 99.7% in the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 765 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Chemours by 100.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 1,119 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Chemours during the fourth quarter worth about $48,000. Itau Unibanco Holding S.A. lifted its holdings in Chemours by 39.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 1,003 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Chemours by 38.2% during the fourth quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock worth $104,000 after acquiring an additional 1,708 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

Chemours Price Performance

Shares of NYSE CC opened at $11.12 on Monday. The business’s 50 day moving average price is $12.55 and its two-hundred day moving average price is $16.51. The company has a market cap of $1.66 billion, a PE ratio of 19.51 and a beta of 1.76. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The Chemours Company has a twelve month low of $9.33 and a twelve month high of $29.21.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, May 6th. The specialty chemicals company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). Chemours had a net margin of 1.51% and a return on equity of 26.54%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company posted $0.32 EPS. Chemours’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts predict that The Chemours Company will post 2.03 EPS for the current year.

Chemours Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.99%. The ex-dividend date of this dividend was Friday, February 28th. Chemours’s payout ratio is 500.00%.

Analyst Ratings Changes

Several research analysts have weighed in on CC shares. BMO Capital Markets reduced their target price on Chemours from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reduced their target price on Chemours from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday. Mizuho set a $15.00 price objective on Chemours in a research report on Tuesday, April 15th. UBS Group decreased their price objective on Chemours from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, Morgan Stanley decreased their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.11.

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.