Chemours Company (The) (CC) Shares Sold by Suntrust Banks Inc.

Suntrust Banks Inc. reduced its stake in shares of Chemours Company (The) (NYSE:CC) by 60.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,345 shares of the specialty chemicals company’s stock after selling 15,939 shares during the quarter. Suntrust Banks Inc.’s holdings in Chemours Company (The) were worth $391,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. FMR LLC raised its stake in Chemours Company (The) by 6.1% during the 2nd quarter. FMR LLC now owns 15,830,411 shares of the specialty chemicals company’s stock worth $600,289,000 after acquiring an additional 905,038 shares in the last quarter. State Street Corp raised its stake in Chemours Company (The) by 35.1% during the 1st quarter. State Street Corp now owns 5,791,792 shares of the specialty chemicals company’s stock worth $222,987,000 after acquiring an additional 1,504,657 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Chemours Company (The) by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,966,582 shares of the specialty chemicals company’s stock worth $74,573,000 after acquiring an additional 186,228 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Chemours Company (The) by 126.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,789,112 shares of the specialty chemicals company’s stock worth $67,843,000 after acquiring an additional 999,380 shares in the last quarter. Finally, AJO LP acquired a new stake in Chemours Company (The) during the 2nd quarter worth $49,809,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.

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Chemours Company (The) (NYSE:CC) last posted its quarterly earnings results on Wednesday, August 2nd. The specialty chemicals company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.49 billion. Chemours Company (The) had a net margin of 4.96% and a return on equity of 122.97%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 17th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Tuesday, August 15th. Chemours Company (The)’s dividend payout ratio (DPR) is 8.11%.

In related news, insider E Bryan Snell sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $46.24, for a total transaction of $462,400.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David C. Shelton sold 13,337 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $48.48, for a total transaction of $646,577.76. The disclosure for this sale can be found here. Insiders sold 71,234 shares of company stock valued at $3,622,358 over the last three months. 1.14% of the stock is owned by insiders.

A number of research analysts have commented on CC shares. Zacks Investment Research upgraded shares of Chemours Company (The) from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, October 3rd. Citigroup Inc. upgraded shares of Chemours Company (The) from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating and issued a $48.00 price objective on shares of Chemours Company (The) in a research note on Friday, June 16th. BidaskClub upgraded shares of Chemours Company (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, J P Morgan Chase & Co lifted their price objective on shares of Chemours Company (The) to $55.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Chemours Company (The) currently has a consensus rating of “Buy” and an average target price of $52.75.

Chemours Company (The) Company Profile

The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.

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Institutional Ownership by Quarter for Chemours Company (The) (NYSE:CC)

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