Richelieu Gestion SA Trims Holdings in The Chemours Company (NYSE:CC)

Richelieu Gestion SA reduced its stake in shares of The Chemours Company (NYSE:CC) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,819 shares of the specialty chemicals company’s stock after selling 2,216 shares during the quarter. Chemours accounts for 2.4% of Richelieu Gestion SA’s holdings, making the stock its 18th largest position. Richelieu Gestion SA owned approximately 0.06% of Chemours worth $2,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Hexagon Capital Partners LLC purchased a new stake in shares of Chemours during the fourth quarter worth approximately $25,000. Morton Brown Family Wealth LLC acquired a new stake in shares of Chemours in the 4th quarter valued at approximately $35,000. Neo Ivy Capital Management acquired a new stake in shares of Chemours in the 4th quarter valued at approximately $40,000. Quarry LP lifted its holdings in shares of Chemours by 106.8% in the 4th quarter. Quarry LP now owns 1,700 shares of the specialty chemicals company’s stock valued at $54,000 after buying an additional 26,700 shares during the period. Finally, Anchor Investment Management LLC acquired a new stake in shares of Chemours in the 4th quarter valued at approximately $56,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Chemours Trading Up 1.6 %

CC stock traded up $0.36 during trading on Wednesday, reaching $23.22. 534,258 shares of the stock traded hands, compared to its average volume of 1,673,066. The business’s 50 day moving average price is $26.06 and its 200-day moving average price is $27.81. The Chemours Company has a 52-week low of $15.10 and a 52-week high of $39.05. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.61 and a quick ratio of 0.99. The firm has a market capitalization of $3.46 billion, a PE ratio of -10.73 and a beta of 1.82.

Chemours (NYSE:CC) last posted its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.25 by $0.07. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.35 billion. Chemours had a positive return on equity of 46.67% and a negative net margin of 5.51%. The business’s revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. As a group, sell-side analysts forecast that The Chemours Company will post 1.88 earnings per share for the current year.

Chemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Tuesday, May 14th. Chemours’s dividend payout ratio (DPR) is presently -46.08%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho assumed coverage on Chemours in a report on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective for the company. BMO Capital Markets raised Chemours from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $19.00 to $34.00 in a report on Tuesday, April 9th. UBS Group lifted their price objective on Chemours from $21.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Barclays reduced their price objective on Chemours from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Chemours currently has an average rating of “Hold” and a consensus target price of $30.13.

Chemours 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.