The Chemours Company (NYSE:CC) Shares Sold by Forest Avenue Capital Management LP

Forest Avenue Capital Management LP cut its position in shares of The Chemours Company (NYSE:CC) by 39.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 514,492 shares of the specialty chemicals company’s stock after selling 331,236 shares during the period. Chemours accounts for 1.3% of Forest Avenue Capital Management LP’s holdings, making the stock its 21st biggest position. Forest Avenue Capital Management LP owned about 0.34% of Chemours worth $10,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CC. Brooklyn Investment Group purchased a new position in Chemours during the third quarter worth approximately $37,000. FMR LLC raised its stake in shares of Chemours by 3.5% during the 3rd quarter. FMR LLC now owns 18,142,202 shares of the specialty chemicals company’s stock worth $368,650,000 after buying an additional 618,361 shares during the period. Truvestments Capital LLC purchased a new position in shares of Chemours during the 3rd quarter valued at approximately $35,000. Charles Schwab Investment Management Inc. lifted its position in shares of Chemours by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the specialty chemicals company’s stock valued at $24,974,000 after buying an additional 32,590 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Chemours in the 3rd quarter valued at $207,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CC shares. Barclays raised their price target 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. The Goldman Sachs Group decreased their target price on Chemours from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 3rd. UBS Group lowered their price target on Chemours from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. BMO Capital Markets increased their price objective on Chemours from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Finally, Morgan Stanley lowered their target price on shares of Chemours from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $24.88.

Insider Activity

In other news, SVP Alvenia Scarborough sold 7,500 shares of the company’s 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 transaction, the senior vice president now owns 16,645 shares of the company’s stock, valued at $343,552.80. This represents a 31.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Chemours Stock Performance

Shares of Chemours stock opened at $21.92 on Wednesday. The business’s 50 day moving average price is $19.47 and its 200 day moving average price is $21.44. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 43.83 and a beta of 1.75. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.92 and a current ratio of 1.73. The Chemours Company has a one year low of $15.10 and a one year high of $32.70.

Chemours (NYSE:CC) last issued its earnings results on Monday, November 4th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.44 billion. Chemours had a return on equity of 29.48% and a net margin of 1.34%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. On average, research analysts predict that The Chemours Company will post 1.35 EPS for the current year.

Chemours Announces Dividend

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 issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 4.56%. Chemours’s payout ratio is 200.00%.

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.