M&T Bank Corp Cuts Stock Position in The Chemours Company (NYSE:CC)

M&T Bank Corp decreased its holdings in The Chemours Company (NYSE:CC) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 487,645 shares of the specialty chemicals company’s stock after selling 22,698 shares during the quarter. M&T Bank Corp’s holdings in Chemours were worth $8,241,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in Chemours by 99.7% during the 4th quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 765 shares during the period. Truvestments Capital LLC acquired a new position in shares of Chemours during the third quarter worth about $35,000. Brooklyn Investment Group purchased a new stake in shares of Chemours during the third quarter worth approximately $37,000. Prospera Private Wealth LLC acquired a new stake in Chemours in the third quarter valued at approximately $75,000. Finally, KBC Group NV lifted its stake in Chemours by 19.5% in the third quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock worth $91,000 after acquiring an additional 728 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Chemours Stock Down 0.7 %

Shares of NYSE CC opened at $14.00 on Friday. The stock has a market cap of $2.09 billion, a PE ratio of 24.56 and a beta of 1.81. The Chemours Company has a 52-week low of $13.31 and a 52-week high of $29.21. The business has a 50-day moving average price of $17.63 and a 200 day moving average price of $18.73. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Equities research analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.25 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 7.14%. Chemours’s dividend payout ratio is presently 175.44%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CC shares. The Goldman Sachs Group dropped their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Mizuho dropped their target price on Chemours from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. BMO Capital Markets decreased their price target on Chemours from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Barclays lowered their price objective on Chemours from $23.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Finally, Truist Financial began coverage on Chemours in a research report on Tuesday, January 28th. They set a “buy” rating and a $27.00 target price on the stock. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.11.

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.