Massachusetts Financial Services Co. MA Sells 967,691 Shares of The Chemours Company (NYSE:CC)

Massachusetts Financial Services Co. MA lessened its holdings in The Chemours Company (NYSE:CC) by 38.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,526,108 shares of the specialty chemicals company’s stock after selling 967,691 shares during the period. Massachusetts Financial Services Co. MA owned 1.02% of Chemours worth $31,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in Chemours by 23.8% in the 2nd quarter. Marshall Wace LLP now owns 7,009,868 shares of the specialty chemicals company’s stock valued at $158,213,000 after acquiring an additional 1,347,710 shares during the period. Khrom Capital Management LLC lifted its holdings in shares of Chemours by 54.6% during the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after buying an additional 1,220,967 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Chemours by 6.8% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,824,301 shares of the specialty chemicals company’s stock worth $63,744,000 after buying an additional 178,625 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Chemours by 26.7% during the second quarter. American Century Companies Inc. now owns 1,811,957 shares of the specialty chemicals company’s stock worth $40,896,000 after buying an additional 382,100 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Chemours by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 1,606,453 shares of the specialty chemicals company’s stock worth $36,258,000 after buying an additional 22,209 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays lifted their target price on Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Royal Bank of Canada dropped their target price on Chemours from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. JPMorgan Chase & Co. dropped their target price on Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. BMO Capital Markets lifted their target price on Chemours from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Finally, The Goldman Sachs Group dropped their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $24.88.

Chemours Stock Up 1.9 %

Shares of NYSE CC opened at $21.94 on Tuesday. 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 Chemours Company has a 52 week low of $15.10 and a 52 week high of $32.70. The stock has a market capitalization of $3.28 billion, a P/E ratio of 43.88 and a beta of 1.75. The stock’s fifty day moving average is $19.47 and its 200 day moving average is $21.44.

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

Chemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s dividend payout ratio is presently 200.00%.

Insider Buying and Selling at Chemours

In other news, SVP Alvenia Scarborough sold 7,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.64, for a total transaction of $154,800.00. Following the sale, the senior vice president now directly owns 16,645 shares in the company, valued at approximately $343,552.80. The trade was a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

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.