Folger Nolan Fleming Douglas Capital Management Inc. Has $13.51 Million Stake in The Chemours Company (NYSE:CC)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its position in shares of The Chemours Company (NYSE:CC) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 664,671 shares of the specialty chemicals company’s stock after selling 2,820 shares during the period. Chemours comprises about 1.3% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 21st largest holding. Folger Nolan Fleming Douglas Capital Management Inc. owned 0.45% of Chemours worth $13,506,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State of Michigan Retirement System grew its position in Chemours by 2.5% in the first quarter. State of Michigan Retirement System now owns 36,479 shares of the specialty chemicals company’s stock valued at $958,000 after purchasing an additional 900 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Chemours in the first quarter valued at about $201,000. Commonwealth Equity Services LLC raised its holdings in Chemours by 2.8% during the first quarter. Commonwealth Equity Services LLC now owns 74,620 shares of the specialty chemicals company’s stock worth $1,960,000 after acquiring an additional 2,010 shares in the last quarter. SpiderRock Advisors LLC bought a new stake in Chemours during the first quarter worth about $284,000. Finally, BNP Paribas Financial Markets boosted its position in Chemours by 53.0% during the first quarter. BNP Paribas Financial Markets now owns 14,340 shares of the specialty chemicals company’s stock valued at $377,000 after purchasing an additional 4,965 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors.

Chemours Stock Performance

Shares of CC stock opened at $18.31 on Thursday. The Chemours Company has a 52 week low of $15.10 and a 52 week high of $32.70. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -8.44 and a beta of 1.74. The company has a 50-day simple moving average of $18.98 and a 200 day simple moving average of $22.37. The company has a debt-to-equity ratio of 5.45, a quick ratio of 1.01 and a current ratio of 1.89.

Chemours (NYSE:CC) last issued its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a return on equity of 33.21% and a net margin of 2.16%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 EPS. On average, sell-side analysts predict that The Chemours Company will post 1.32 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 5.46%. Chemours’s dividend payout ratio (DPR) is presently -46.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group dropped their price objective on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group dropped their price target on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. Barclays cut their price target on shares of Chemours from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Royal Bank of Canada lowered their price objective on shares of Chemours from $35.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. Finally, BMO Capital Markets raised their target price on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.00.

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.