Bryn Mawr Capital Management LLC Cuts Holdings in The Chemours Company (NYSE:CC)

Bryn Mawr Capital Management LLC decreased its position in shares of The Chemours Company (NYSE:CC) by 21.9% in the fourth quarter, HoldingsChannel reports. The firm owned 20,669 shares of the specialty chemicals company’s stock after selling 5,796 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Chemours were worth $349,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CC. KBC Group NV lifted its holdings in shares of Chemours by 19.5% in the 3rd quarter. KBC Group NV now owns 4,468 shares of the specialty chemicals company’s stock valued at $91,000 after acquiring an additional 728 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Chemours by 166.9% in the 3rd quarter. Blue Trust Inc. now owns 1,169 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 731 shares during the last quarter. GAMMA Investing LLC lifted its stake in Chemours by 99.7% in the fourth quarter. GAMMA Investing LLC now owns 1,532 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 765 shares during the last quarter. ARGA Investment Management LP lifted its stake in Chemours by 0.7% in the fourth quarter. ARGA Investment Management LP now owns 148,614 shares of the specialty chemicals company’s stock worth $2,512,000 after purchasing an additional 1,032 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Chemours by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 17,205 shares of the specialty chemicals company’s stock worth $349,000 after purchasing an additional 1,175 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Chemours Stock Performance

Chemours stock opened at $15.19 on Friday. The company has a 50 day moving average price of $17.91 and a 200-day moving average price of $18.84. The company has a debt-to-equity ratio of 6.70, a quick ratio of 0.92 and a current ratio of 1.68. The Chemours Company has a fifty-two week low of $14.94 and a fifty-two week high of $29.21. The company has a market capitalization of $2.27 billion, a PE ratio of 26.66 and a beta of 1.81.

Chemours (NYSE:CC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Chemours had a net margin of 1.51% and a return on equity of 26.54%. As a group, equities analysts forecast that The Chemours Company will post 2.03 earnings per share for the current year.

Chemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend is Friday, February 28th. Chemours’s payout ratio is 175.44%.

Analysts Set New Price Targets

CC has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Mizuho decreased their price objective on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley decreased their price objective on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Truist Financial initiated coverage on shares of Chemours in a research note on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, The Goldman Sachs Group decreased their price objective on shares of Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.11.

Chemours Company 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.