The Chemours Company (NYSE:CC) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its position in The Chemours Company (NYSE:CC) by 4.1% during the 3rd quarter, Holdings Channel reports. The firm owned 510,343 shares of the specialty chemicals company’s stock after acquiring an additional 20,122 shares during the quarter. M&T Bank Corp’s holdings in Chemours were worth $10,370,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CC. Matrix Trust Co acquired a new stake in shares of Chemours in the third quarter valued at approximately $25,000. Blue Trust Inc. lifted its stake in Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 731 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Chemours during the 3rd quarter valued at $35,000. Brooklyn Investment Group purchased a new position in Chemours during the third quarter worth $37,000. Finally, Signaturefd LLC raised its holdings in shares of Chemours by 163.7% in the third quarter. Signaturefd LLC now owns 1,959 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 1,216 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Price Performance

Chemours stock opened at $17.72 on Monday. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 35.44 and a beta of 1.80. The Chemours Company has a 1 year low of $15.10 and a 1 year high of $32.70. The firm has a 50 day moving average price of $19.72 and a 200 day moving average price of $20.57.

Chemours (NYSE:CC) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Chemours had a net margin of 1.34% and a return on equity of 29.48%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. Sell-side analysts predict that The Chemours Company will post 1.35 earnings per share for the current year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.64%. Chemours’s dividend payout ratio (DPR) is 200.00%.

Insider Activity

In other news, SVP Alvenia Scarborough sold 7,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.64, for a total value of $154,800.00. Following the transaction, the senior vice president now owns 16,645 shares of the company’s stock, valued at approximately $343,552.80. This trade represents a 31.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Barclays raised their price target on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group cut their price objective on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 3rd. Morgan Stanley reduced their price objective on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, BMO Capital Markets boosted their price target on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Chemours has an average rating of “Hold” and an average target price of $24.88.

Chemours Company 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.