Swiss National Bank Decreases Stock Position in Chemours Co (NYSE:CC)

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Swiss National Bank lowered its stake in Chemours Co (NYSE:CC) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 546,100 shares of the specialty chemicals company’s stock after selling 26,400 shares during the quarter. Swiss National Bank owned about 0.33% of Chemours worth $13,106,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CC. JPMorgan Chase & Co. increased its holdings in shares of Chemours by 40.9% in the 1st quarter. JPMorgan Chase & Co. now owns 657,295 shares of the specialty chemicals company’s stock worth $24,424,000 after buying an additional 190,740 shares during the last quarter. Commerce Bank grew its holdings in Chemours by 32.9% during the 1st quarter. Commerce Bank now owns 11,552 shares of the specialty chemicals company’s stock valued at $430,000 after purchasing an additional 2,858 shares during the last quarter. Intact Investment Management Inc. bought a new position in Chemours during the 2nd quarter valued at about $953,000. Dean Capital Investments Management LLC grew its holdings in Chemours by 95.2% during the 1st quarter. Dean Capital Investments Management LLC now owns 358,782 shares of the specialty chemicals company’s stock valued at $13,332,000 after purchasing an additional 175,017 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in Chemours during the 1st quarter valued at about $26,000. Institutional investors and hedge funds own 76.18% of the company’s stock.

In related news, CEO Mark P. Vergnano acquired 44,000 shares of the stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $23.17 per share, with a total value of $1,019,480.00. Following the transaction, the chief executive officer now directly owns 116,600 shares in the company, valued at $2,701,622. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradley J. Bell acquired 5,000 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $14.67 per share, with a total value of $73,350.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 77,790 shares of company stock valued at $1,490,412. 2.34% of the stock is owned by corporate insiders.

Several equities analysts recently commented on the stock. Susquehanna Bancshares upgraded shares of Chemours from a “neutral” rating to a “positive” rating and cut their price target for the company from $37.00 to $18.00 in a report on Tuesday. Argus downgraded shares of Chemours from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. downgraded shares of Chemours from an “overweight” rating to a “neutral” rating and cut their price target for the company from $40.00 to $34.00 in a report on Monday, May 6th. ValuEngine downgraded shares of Chemours from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Finally, BMO Capital Markets cut their price target on shares of Chemours from $45.00 to $31.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.10.

Chemours stock opened at $13.00 on Friday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 2.29, a price-to-earnings-growth ratio of 0.35 and a beta of 2.48. The company has a debt-to-equity ratio of 5.37, a current ratio of 1.96 and a quick ratio of 1.09. Chemours Co has a 1 year low of $11.71 and a 1 year high of $46.13. The firm has a 50-day moving average of $16.84 and a two-hundred day moving average of $28.49.

Chemours (NYSE:CC) last released its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.18). The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Chemours had a net margin of 10.33% and a return on equity of 71.90%. Chemours’s quarterly revenue was down 22.5% on a year-over-year basis. During the same period last year, the firm earned $1.71 earnings per share. Research analysts expect that Chemours Co will post 2.6 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 7.69%. Chemours’s dividend payout ratio (DPR) is 17.64%.

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, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.

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Institutional Ownership by Quarter for Chemours (NYSE:CC)

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