The Chemours Company (NYSE:CC) Shares Sold by Bourgeon Capital Management LLC

Bourgeon Capital Management LLC cut its position in The Chemours Company (NYSE:CC) by 22.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,000 shares of the specialty chemicals company’s stock after selling 10,000 shares during the period. Bourgeon Capital Management LLC’s holdings in Chemours were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in Chemours by 100.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 1,119 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Chemours in the fourth quarter worth about $48,000. Itau Unibanco Holding S.A. boosted its position in Chemours by 39.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 3,554 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 1,003 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Chemours during the 4th quarter valued at about $91,000. Finally, KBC Group NV grew its stake in Chemours by 38.2% during the 4th quarter. KBC Group NV now owns 6,176 shares of the specialty chemicals company’s stock valued at $104,000 after acquiring an additional 1,708 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CC shares. Truist Financial decreased their target price on shares of Chemours from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Barclays reduced their price objective on Chemours from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 28th. Mizuho set a $15.00 price objective on Chemours in a research note on Tuesday, April 15th. Wall Street Zen downgraded Chemours from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley reduced their price target on Chemours from $22.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Chemours has an average rating of “Hold” and an average price target of $17.22.

Chemours Stock Performance

Shares of Chemours stock opened at $9.41 on Tuesday. The firm has a market cap of $1.41 billion, a PE ratio of 16.50 and a beta of 1.76. The company has a quick ratio of 0.92, a current ratio of 1.68 and a debt-to-equity ratio of 6.70. The Chemours Company has a 52 week low of $9.13 and a 52 week high of $25.80. The business’s fifty day simple moving average is $11.46 and its 200-day simple moving average is $15.56.

Chemours (NYSE:CC) last issued its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. Equities analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, May 19th will be given a $0.0875 dividend. This represents a yield of 3.17%. The ex-dividend date is Friday, May 16th. Chemours’s payout ratio is 175.00%.

Insiders Place Their Bets

In other Chemours news, CFO Shane Hostetter acquired 4,450 shares of the stock in a transaction dated Monday, May 19th. The stock was acquired at an average price of $11.28 per share, with a total value of $50,196.00. Following the completion of the purchase, the chief financial officer now owns 59,694 shares in the company, valued at $673,348.32. This trade represents a 8.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is owned by insiders.

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.