Hsbc Holdings PLC Sells 109,392 Shares of The Chemours Company $CC

Hsbc Holdings PLC decreased its stake in shares of The Chemours Company (NYSE:CC) by 47.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 122,968 shares of the specialty chemicals company’s stock after selling 109,392 shares during the period. Hsbc Holdings PLC’s holdings in Chemours were worth $1,462,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CC. Vanguard Group Inc. raised its stake in shares of Chemours by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock worth $211,287,000 after acquiring an additional 490,778 shares during the last quarter. State Street Corp grew its stake in shares of Chemours by 22.7% during the second quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after purchasing an additional 1,131,682 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Chemours by 13.8% during the third quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock valued at $75,971,000 after purchasing an additional 580,089 shares during the last quarter. UBS Group AG increased its holdings in shares of Chemours by 0.3% in the third quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock valued at $75,311,000 after purchasing an additional 14,865 shares in the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Chemours in the third quarter valued at approximately $63,103,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank Of Canada upped their price objective on Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. UBS Group upped their price target on Chemours from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Morgan Stanley raised their price target on Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Alembic Global Advisors reiterated an “overweight” rating and issued a $30.00 price objective on shares of Chemours in a research report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Chemours currently has an average rating of “Hold” and an average price target of $24.60.

Chemours Stock Performance

Shares of Chemours stock opened at $20.53 on Wednesday. The firm has a fifty day moving average of $22.76 and a two-hundred day moving average of $19.15. The company has a debt-to-equity ratio of 18.98, a quick ratio of 0.87 and a current ratio of 1.82. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -7.78 and a beta of 1.39. The Chemours Company has a 52 week low of $10.44 and a 52 week high of $28.67.

Chemours (NYSE:CC) last announced its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company posted $0.13 EPS. Chemours’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that The Chemours Company will post 1.07 EPS for the current year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Sunday, May 17th were given a $0.0875 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.35 annualized dividend and a dividend yield of 1.7%. Chemours’s payout ratio is currently -13.26%.

Chemours 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.