Vaughan Nelson Investment Management L.P. Sells 657,560 Shares of The Chemours Company (NYSE:CC)

Vaughan Nelson Investment Management L.P. cut its stake in shares of The Chemours Company (NYSE:CC) by 23.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,166,741 shares of the specialty chemicals company’s stock after selling 657,560 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 1.45% of Chemours worth $44,028,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in Chemours by 169.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,105 shares of the specialty chemicals company’s stock valued at $1,009,000 after acquiring an additional 22,067 shares in the last quarter. Khrom Capital Management LLC raised its stake in shares of Chemours by 54.6% in the second quarter. Khrom Capital Management LLC now owns 3,456,626 shares of the specialty chemicals company’s stock worth $78,016,000 after purchasing an additional 1,220,967 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Chemours during the first quarter valued at $1,764,000. Edgestream Partners L.P. bought a new position in shares of Chemours during the first quarter valued at $1,228,000. Finally, Point72 Hong Kong Ltd bought a new stake in Chemours in the 2nd quarter worth about $789,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

CC has been the topic of several research analyst reports. BMO Capital Markets upped their target price on shares of Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. UBS Group lowered their price objective on shares of Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group dropped their target price on shares of Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, September 3rd. Barclays boosted their target price on shares of Chemours from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price target on Chemours from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.88.

Chemours Trading Down 0.9 %

Shares of Chemours stock opened at $18.89 on Friday. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.73 and a quick ratio of 0.92. The stock has a market capitalization of $2.82 billion, a PE ratio of 37.78 and a beta of 1.75. The Chemours Company has a 1-year low of $15.10 and a 1-year high of $32.70. The company’s fifty day simple moving average is $19.12 and its 200-day simple moving average is $21.77.

Chemours (NYSE:CC) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned $0.64 earnings per share. Chemours’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities analysts anticipate that The Chemours Company will post 1.35 earnings per share for the current year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Friday, November 15th. Chemours’s payout ratio is 200.00%.

Insider Buying and Selling at Chemours

In other Chemours news, SVP Alvenia Scarborough sold 7,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.64, for a total value of $154,800.00. Following the completion of the sale, the senior vice president now owns 16,645 shares in the company, valued at approximately $343,552.80. This represents a 31.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

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.