UBS Group AG Sells 1,169,293 Shares of The Chemours Company $CC

UBS Group AG trimmed its position in shares of The Chemours Company (NYSE:CC) by 24.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,585,199 shares of the specialty chemicals company’s stock after selling 1,169,293 shares during the period. UBS Group AG’s holdings in Chemours were worth $42,269,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Chemours during the 3rd quarter worth approximately $43,000. Advisory Services Network LLC bought a new position in Chemours in the third quarter valued at approximately $54,000. Hantz Financial Services Inc. increased its stake in Chemours by 334.2% in the third quarter. Hantz Financial Services Inc. now owns 4,329 shares of the specialty chemicals company’s stock valued at $69,000 after acquiring an additional 3,332 shares during the last quarter. CWM LLC raised its position in Chemours by 32.4% during the third quarter. CWM LLC now owns 5,682 shares of the specialty chemicals company’s stock valued at $90,000 after purchasing an additional 1,392 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Chemours during the second quarter valued at approximately $116,000. 76.26% of the stock is owned by institutional investors.

Chemours Stock Performance

NYSE CC opened at $23.76 on Thursday. The firm’s fifty day moving average price is $21.08 and its two-hundred day moving average price is $16.55. The stock has a market cap of $3.57 billion, a PE ratio of -9.00 and a beta of 1.47. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.85 and a current ratio of 1.78. The Chemours Company has a fifty-two week low of $9.13 and a fifty-two week high of $28.67.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.10. Chemours had a positive return on equity of 50.13% and a negative net margin of 6.82%.The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the company posted $0.13 EPS. Chemours’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts expect that The Chemours Company will post 1.35 EPS for the current fiscal year.

Chemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.35 annualized dividend and a dividend yield of 1.5%. Chemours’s dividend payout ratio is currently -14.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a report on Monday, April 20th. Jefferies Financial Group reissued a “hold” rating and set a $17.00 price target on shares of Chemours in a report on Monday, February 23rd. Morgan Stanley upped their price objective on Chemours from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Truist Financial lifted their target price on Chemours from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, UBS Group boosted their target price on Chemours from $23.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.60.

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.