Burney Co. Trims Stock Holdings in The Chemours Company (NYSE:CC)

Burney Co. decreased its holdings in The Chemours Company (NYSE:CC) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,975 shares of the specialty chemicals company’s stock after selling 8,071 shares during the period. Burney Co. owned 0.13% of Chemours worth $4,265,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC purchased a new position in shares of Chemours in the fourth quarter worth about $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Chemours in the first quarter worth about $29,000. Neo Ivy Capital Management purchased a new position in shares of Chemours in the fourth quarter worth about $40,000. North Star Investment Management Corp. increased its stake in shares of Chemours by 1,510.0% in the first quarter. North Star Investment Management Corp. now owns 1,288 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,208 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in Chemours by 1,969.7% during the first quarter. Sunbelt Securities Inc. now owns 1,366 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Price Performance

Chemours stock traded up $0.35 during mid-day trading on Thursday, hitting $19.34. 579,329 shares of the company traded hands, compared to its average volume of 1,574,740. The Chemours Company has a one year low of $15.10 and a one year high of $35.15. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -8.75 and a beta of 1.80. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.99 and a current ratio of 1.61. The stock has a fifty day moving average price of $21.64 and a 200-day moving average price of $24.89.

Chemours (NYSE:CC) last announced its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.19). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Chemours had a net margin of 2.16% and a return on equity of 32.93%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. On average, equities analysts predict that The Chemours Company will post 1.81 earnings per share for the current fiscal year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.17%. Chemours’s payout ratio is -46.08%.

Analyst Upgrades and Downgrades

CC has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Mizuho initiated coverage on shares of Chemours in a research note on Friday, June 7th. They set a “neutral” rating and a $25.00 price objective for the company. BMO Capital Markets reduced their price objective on shares of Chemours from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. reduced their price objective on shares of Chemours from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, Barclays reduced their price objective on shares of Chemours from $30.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Chemours currently has a consensus rating of “Hold” and a consensus price target of $27.63.

About Chemours

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.