SG Americas Securities LLC Sells 176,044 Shares of The Chemours Company $CC

SG Americas Securities LLC decreased its position in shares of The Chemours Company (NYSE:CC) by 74.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,192 shares of the specialty chemicals company’s stock after selling 176,044 shares during the period. SG Americas Securities LLC’s holdings in Chemours were worth $1,326,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Chemours by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 17,920,868 shares of the specialty chemicals company’s stock worth $211,287,000 after purchasing an additional 490,778 shares during the last quarter. State Street Corp lifted its holdings in shares of Chemours by 22.7% during the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock valued at $70,009,000 after purchasing an additional 1,131,682 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Chemours by 13.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,796,153 shares of the specialty chemicals company’s stock valued at $75,971,000 after purchasing an additional 580,089 shares during the last quarter. UBS Group AG boosted its position in shares of Chemours by 0.3% in the 3rd quarter. UBS Group AG now owns 4,754,492 shares of the specialty chemicals company’s stock worth $75,311,000 after purchasing an additional 14,865 shares in the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Chemours in the 3rd quarter worth $63,103,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CC has been the subject of a number of research analyst reports. Zacks Research upgraded Chemours from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Morgan Stanley increased their price objective on shares of Chemours from $17.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Royal Bank Of Canada boosted their target price on shares of Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Alembic Global Advisors reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Chemours in a report on Wednesday, May 13th. Finally, UBS Group lifted their price objective on shares of Chemours from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.10.

Chemours Trading Down 0.2%

Shares of NYSE:CC opened at $18.98 on Friday. The business has a 50-day moving average price of $22.50 and a 200-day moving average price of $19.24. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -7.19 and a beta of 1.41. The Chemours Company has a 52-week low of $10.44 and a 52-week high of $28.67. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98.

Chemours (NYSE:CC) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.10. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company earned $0.13 EPS. Chemours’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts predict that The Chemours Company will post 1.16 EPS for the current year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Sunday, May 17th were paid a $0.0875 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 1.8%. Chemours’s dividend payout ratio is presently -13.26%.

About Chemours

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.